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Latvia Inflation January 2023

Latvia: Harmonized inflation rises in January

Harmonized inflation increased to 21.4% in January, following December’s 20.7%. January’s figure was the highest inflation rate since November 2022. Looking at the details of the release, housing and utilities prices rose at a quicker pace in January compared to the previous month, while price pressures for transportation eased.

The trend pointed up, with annual average harmonized inflation coming in at 18.4% in January (December: 17.2%). Meanwhile, consumer price inflation rose to 21.5% in January, from December’s 20.9%.

Finally, harmonized consumer prices increased 0.52% from the previous month in January, contrasting the 0.45% drop recorded in December.

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