Latvia Inflation February 2022

Latvia

Latvia: Inflation comes in at highest level since February 2009 in February

March 8, 2022

Consumer prices increased 1.63% over the previous month in February, after January's flat result. February's result was the highest reading since January 2009. The uptick was broad-based, with greater price pressures recorded for food and non-alcoholic beverages, transportation, and housing and utilities.

Inflation rose to 8.7% in February from January’s 7.5%. February's result was the highest inflation rate since February 2009. Annual average inflation rose to 4.7% in February (January: 3.9%). Finally, harmonized inflation rose to 8.8% in February, from January’s 7.5%.

FocusEconomics panelists see harmonized inflation averaging 6.3% in 2022, which is up 1.3 percentage points from the previous month’s forecast, and 2.6% in 2023.


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Latvia Inflation February 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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