Latvia Inflation September 2022

Latvia

Latvia: Harmonized inflation comes in at highest level since our records began

October 10, 2022

Harmonized inflation came in at 22.0% in September, which was up from August’s 21.4%. September's result represented the highest inflation rate since our current records began. Looking at the details of the release, prices for food and non-alcoholic beverages rose at a quicker rate in September, while prices for transportation rose at a slower pace. Meanwhile, housing and utilities prices increased at a softer pace.

The trend pointed up, with annual average harmonized inflation coming in at 13.7% in September (August: 12.2%). Meanwhile, consumer price inflation rose to 22.1% in September, from the previous month's 21.6%.

Lastly, harmonized consumer prices increased 1.50% in September over the previous month, accelerating from August's 0.41% increase.

Our panelists see harmonized inflation averaging 16.4% in 2022, which is up 0.7 percentage points from last month’s forecast, and 8.2% in 2023.


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Latvia Inflation September 2022 1

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Central Statistics Bureau and FocusEconomics Consensus Forecast.


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