Latvia: Inflation comes in at highest level since November 2008 in March
Consumer prices rose 3.37% in March over the previous month, accelerating from the 1.63% increase logged in February. March’s result was the highest reading since January 1996. Looking at the details of the release, housing and utilities prices rose at a quicker pace in March compared to the previous month and price pressures for transportation picked up pace.
Inflation came in at 11.5% in March, up from February’s 8.7%. March’s figure was the highest inflation rate since November 2008. Annual average inflation rose to 11.5% in March (February: 8.8%). Lastly, harmonized inflation rose to 11.5% in March, from the previous month’s 8.8%.