Inflation in Latvia
Latvia - Inflation
Inflation comes in at highest level in over 12 years in October
Consumer prices increased 1.14% in October over the previous month, accelerating from the 1.06% increase seen in September. October's result was the highest reading since March 2018. Looking at the details of the release, prices for transportation and beverages rebounded firmly, while prices for entertainment rose at a swifter pace.
Inflation rose to 6.0% in October from September’s 4.8%. October's result represented the highest inflation rate in over 12 years. Meanwhile, the trend pointed up, with annual average inflation coming in at 1.9% in October (September: 1.4%). Lastly harmonized inflation came in at 6.0% in October, following the 4.7% figure logged in the prior month and similarly marked the highest result since March 2009.
FocusEconomics panelists see harmonized inflation averaging 3.0% in 2022, which is up 0.6 percentage points from last month’s forecast, and 2.3% in 2023.
Latvia - Inflation Data
|Inflation Rate (CPI, annual variation in %)||0.2||0.2||2.9||2.5||2.8|
5 years of economic forecasts for more than 30 economic indicators.
Latvia Inflation Chart
Source: Central Statistical Bureau of Latvia and FocusEconomics calculations.
|Bond Yield||0.55||0.0 %||Jun 30|
|Exchange Rate||1.12||0.65 %||Dec 31|
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November 9, 2021
Consumer prices increased 1.14% in October over the previous month, accelerating from the 1.06% increase seen in September.
November 3, 2021
Industrial output expanded 5.8% year-on-year in September (August: +4.3% yoy).
October 28, 2021
GDP expanded 4.8% on an annual basis in the third quarter of 2021, according to preliminary national accounts data released by Latvia’s Statistical Institute on 28 October.
October 8, 2021
Consumer prices rose 1.06% over the previous month in September, picking up from the 0.36% increase seen in August.
October 4, 2021
Industrial output increased 3.7% in year-on-year terms in August, moderating from July's 8.4% rise and marking the lowest reading since February.