Latvia: Inflation climbs further in November
December 8, 2016
In November, consumer prices increased 0.2% from the previous month, which came in below October’s 0.8% increase. According to the Central Statistical Bureau, November’s figure stemmed mainly from higher prices of food and non-alcoholic beverages as well as for services related to transportation, while prices for clothing and footwear declined from the previous month.
Inflation increased from 1.1% in October to 1.3% in November and marked the highest level since December 2012. Due to the rise, the annual average variation in consumer prices inched up from October’s minus 0.1% to a flat average figure in November.
Harmonized consumer prices—derived from the Harmonized Index of Consumer Prices (HICP)—increased 0.1% month-on-month in November, which was down from the 0.6% rise in October. HICP inflation inched up to 1.2% in November from 1.1% in October. The annual average variation in HICP inflation inched up from minus 0.1% in October to zero in November.
Author: Ricardo Aceves, Senior Economist