Latvia Inflation


Latvia: Consumer prices increase after two consecutive drops

December 8, 2015

In November, consumer prices were flat over the previous month, which came in below the 0.4% increase observed in the previous month. The statistical office reported that higher prices for food and non-alcoholic beverages offset lower prices for clothing and footwear as well as for transportation.

Consumer prices swung from a 0.2% annual decrease in October to a 0.1% increase in November. The reading was the first positive result after two consecutive months of falls. Throughout 2015, inflation was subdued. Annual average inflation was 0.2% in November, which matched October’s figure.

Harmonized consumer prices decreased 0.1% month-on-month in November which was down from the flat reading observed in October. Harmonized consumer prices were unchanged on an annual basis in November, which came in below the 0.1% decrease tallied in October. Annual average HICP inflation inched down from 0.3% in October to 0.2% in November.

The Central Bank sees HICP inflation averaging 2.0% in 2016. FocusEconomics Consensus Forecast panelists expect HICP inflation to average 1.4% in 2016, which is down 0.3 percentage points from last month’s projection. For 2017, the panel expects inflation to average 2.2%.

Author:, Senior Economist

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Latvia Inflation Chart

Latvia Inflation November 2015

Note: Month-on-month changes and annual variation of consumer price index (CPI) in %.
Source: Central Statistics Bureau.

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