Latvia: Inflation shoots up in September
October 10, 2016
In September, consumer prices increased 0.4% from the previous month, which contrasted August’s 0.6% decrease. According to the Central Statistical Bureau, the monthly jump stemmed from higher prices for clothing and footwear and for food and non-alcoholic beverages.
Inflation climbed from a flat reading in August to 0.6% in September, the highest level in 15 months. Due to the jump, the annual average variation in consumer prices inched up from August’s minus 0.3% to minus 0.2% in September
Harmonized consumer prices—derived from the Harmonized Index of Consumer Prices (HICP)—decreased 0.7% month-on-month in September (the last month for which data are available), deteriorating from the 0.3% drop in August. HICP consumer prices fell 0.1% annually, contrasting the 0.1% increase in August. The annual average variation in HICP inflation stabilized at August’s minus 0.3% in September.
Author: Ricardo Aceves, Senior Economist