Latvia Inflation June 2022

Latvia

Latvia: Inflation comes hits highest level in over 26 years in June

July 8, 2022

Consumer prices rose 2.46% in June over the previous month, easing from May’s 3.91% rise. June’s result was mainly due to a moderation in prices for housing and utilities.



Nonetheless, inflation increased to 19.3% in June, following May’s 16.9% and marked the highest inflation rate since March 1996. Annual average inflation rose to 9.2% in June (May: 7.8%). Lastly, harmonized inflation rose to 19.2% in June, from the previous month's 16.8%.

FocusEconomics panelists see harmonized inflation averaging 11.2% in 2022, which is up 1 percentage points from the previous month’s forecast, and 4.7% in 2023.


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Latvia Inflation June 2022

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Central Statistics Bureau and FocusEconomics Consensus Forecast.


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