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.
Author: Eric Denis , Economist