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Latvia Inflation January 2024

Latvia: Harmonized inflation ticks up in January

Harmonized inflation came in at 1.1% in January, which was up from December’s 0.9%. The increase was largely due to rising price growth for food and non-alcoholic beverages. In addition, price pressures for housing and utilities dropped at a less pronounced pace.

Annual average harmonized inflation fell to 7.5% in January (December: 9.1%). Meanwhile, consumer price inflation rose to 1.0% in January, from the previous month’s 0.6%.

Lastly, harmonized consumer prices rose 0.78% from the previous month in January, contrasting December’s 0.73% drop. January’s result was the highest reading since May 2023.

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