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Latvia Inflation October 2023

Latvia: Harmonized inflation falls to lowest level since April 2021 in October

Harmonized inflation fell to 2.3% in October, following September’s 3.6%. October’s figure represented the lowest inflation rate since April 2021. Looking at the details of the release, prices for food and non-alcoholic beverages grew at a weaker pace in October. Additionally, prices for transportation and for housing and utilities dropped at a sharper rate.

Annual average harmonized inflation fell to 12.4% in October (September: 14.0%). Meanwhile, consumer price inflation fell to 2.1% in October, from September’s 3.4%.

Lastly, harmonized consumer prices fell 0.38% in October over the previous month, a less pronounced decrease than the 0.50% fall seen in September.

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