Latvia Inflation

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Latvia: Inflation accelerates in May

June 8, 2015

In May, consumer prices rose 0.6% over the previous month, reflecting the increase tallied in April. May’s reading was mainly the result of an increase in prices of food and non-alcoholic beverages as well as transports, which was partly offset by a decrease in alcoholic beverages prices.

Inflation grew 1.2% over the same month last year, accelerating from the 0.5% increase observed in April and marking the highest rate since December 2012. Meanwhile, annual HICP consumer prices—based on the harmonized index of consumer prices—rose 0.6% in April, which is the last month for which data are available. The reading was slightly above the 0.5% increase tallied in March. Annual average HICP inflation remained unchanged yet again in April at the 0.6% that has been recorded for three consecutive months.

The Central Bank expects HICP inflation to average 1.4% in 2015. FocusEconomics Consensus Forecast panelists expect HICP inflation to average 0.4% in 2015, which is down 0.1 percentage points from last month’s projection. For 2016, the panel expects inflation to average 1.9%.


Author:, Economist

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Latvia Inflation Chart


Latvia Inflation May 2015 0

Note: Month-on-month changes and annual variation of consumer price index (CPI) in %.
Source: Central Statistics Bureau.


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