Inflation in Latvia

Latvia Inflation | Economic News & Forecasts

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

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)0.2  0.2  2.9  2.5  2.8  

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Latvia Inflation Chart

Latvia Inflation
Note: Annual variation of harmonized index of consumer prices (HICP) in %.
Source: Central Statistical Bureau of Latvia and FocusEconomics calculations.

Latvia Facts

Value Change Date
Bond Yield0.550.0 %Jun 30
Exchange Rate1.120.65 %Dec 31

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