Latvia: Inflation remains flat in August
September 8, 2016
In August, consumer prices fell 0.6% over the previous month and came in below July’s 0.3% decrease. According to the Central Statistical Bureau, the monthly decline reflected lower prices for food and alcoholic beverages as well as for services related to transport.
Inflation inched down to a flat reading in August from 0.1% in July, which had marked the first positive reading since December 2015. The annual average variation in consumer prices remained steady at July’s minus 0.3% rate in August.
Moreover, harmonized consumer prices—derived from the Harmonized Index of Consumer Prices (HICP)—decreased 0.7% month-on-month in August, which was down the 0.3% drop in July. HICP consumer prices fell 0.1% annually, which contrasted the 0.1% increase in July. The annual average variation in HICP inflation stabilized at July’s minus 0.3% in August.
Author: Ricardo Aceves, Senior Economist