Latvia Inflation October 2021

Latvia

Latvia: Inflation comes in at highest level in over 12 years in October

November 9, 2021

Consumer prices increased 1.14% in October over the previous month, accelerating from the 1.06% increase seen in September. October's result was the highest reading since March 2018. Looking at the details of the release, prices for transportation and beverages rebounded firmly, while prices for entertainment rose at a swifter pace.



Inflation rose to 6.0% in October from September’s 4.8%. October's result represented the highest inflation rate in over 12 years. Meanwhile, the trend pointed up, with annual average inflation coming in at 1.9% in October (September: 1.4%). Lastly harmonized inflation came in at 6.0% in October, following the 4.7% figure logged in the prior month and similarly marked the highest result since March 2009.

FocusEconomics panelists see harmonized inflation averaging 3.0% in 2022, which is up 0.6 percentage points from last month’s forecast, and 2.3% in 2023.


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Latvia Inflation October 2021 0

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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