In June, consumer prices fell 0.1% over the previous month, which was a notch above the 0.2% drop tallied in May. The monthly reading reflected lower prices for alcoholic beverages and tobacco as well as for transport, amid declining fuel prices. Owing to the monthly drop, annual headline inflation fell from 2.2% in May to 1.9% in June, which represents the lowest level since November 2010. Meanwhile, HICP inflation (based on the harmonized index of consumer prices) declined from 2.8% in April to 2.3% in May (the last month for which data are available). Consequently, annual average HICP inflation dropped from 4.0% in April to 3.7% in May. The Central Bank expects HICP inflation to average 2.4% this year, before falling to 2.0% in 2013.
Inflation falls to 19-month low
July 9, 2012
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Latvia Inflation Chart
Note: Month-on-month and year-on-year variation of consumer price index in %.
Source: Central Statistics Bureau and FocusEconomics calculations.
Latvia Economic News
October 10, 2016
In September, consumer prices increased 0.4% from the previous month, which contrasted August’s 0.6% decrease.
October 4, 2016
Industrial production in Latvia contracted 0.6% year-on-year in August, which contrasted the 2.6% increase in July.
September 8, 2016
In August, consumer prices fell 0.6% over the previous month and came in below July’s 0.3% decrease.
September 5, 2016
Industrial production in Latvia grew 2.7% year-on-year in July, which was down from 7.9% increase in June.
August 31, 2016
In the second quarter, Latvia’s economy increased 2.1% year-on-year, according to a revised set of data released by the Statistical Institute on 31 August.