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Latvia Inflation March 2023

Latvia: Harmonized inflation declines to lowest level since May 2022 in March

Harmonized inflation came in at 17.2% in March, down from February’s 20.1%. March’s figure marked the weakest inflation rate since May 2022. Looking at the details of the release, prices for food and non-alcoholic beverages, housing and utilities, and restaurant and hotels grew at a softer pace in March, while prices for transportation dropped after having grown in the previous month.

That said, the trend pointed up, with annual average harmonized inflation coming in at 19.7% in March (February: 19.3%). Meanwhile, consumer price inflation fell to 17.2% in March, from the previous month’s 20.3%.

Finally, harmonized consumer prices rose 0.75% in March over the previous month, picking up from February’s 0.63% rise.

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