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Latvia Inflation November 2023

Latvia: Harmonized inflation declines to lowest level since March 2021 in November

Harmonized inflation dropped to 1.1% in November from October’s 2.3%. November’s reading marked the weakest inflation rate since March 2021. Looking at the details of the release, prices for food and non-alcoholic beverages grew at a weaker pace in November. Moreover, prices for transportation declined at a sharper pace.

In addition, the trend pointed down, with annual average harmonized inflation coming in at 10.7% in November (October: 12.4%). Meanwhile, consumer price inflation fell to 1.0% in November, from October’s 2.1%.

Lastly, harmonized consumer prices fell 0.08% from the previous month in November, a less pronounced fall than October’s 0.38% drop. November’s result was the highest reading since July.

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