Latvia: Consumer prices register biggest fall in four years in May
June 8, 2020
Consumer prices dropped 0.37% in May over the previous month, a softer drop than the 0.55% drop logged in April. The upturn was broad-based, chiefly reflecting higher prices for food and non-alcoholic beverages. Prices for alcoholic beverages and tobacco dropped markedly, however.
Consumer prices declined 0.6% on an annual basis in May, a steeper fall compared to April’s flat reading. May's figure represented the largest fall in consumer prices since May 2016. In addition, the trend pointed down, with annual average inflation coming in at 2.0% in May (April: 2.3%).
Author: Almanas Stanapedis, Economist