Latvia Inflation May 2021

Latvia

Latvia: Inflation comes in at highest level since September 2019 in May

June 16, 2021

Consumer prices rose 0.45% in May over the previous month, following April's 0.91% increase. May's result marked the softest rise in prices since January. The moderation was largely due to slower growth in prices for food and non-alcoholic beverages. In addition, price pressures for transportation moderated.

Inflation rose to 2.6% in May, following April’s 1.7%. May's reading marked the highest inflation rate since September 2019. The annual average variation of consumer prices rose to 0.1% in May (April: -0.2%).

FocusEconomics panelists see harmonized inflation averaging 1.5% in 2021, which is up 0.2 percentage points from the previous month’s forecast, and 2.1% in 2022.


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Latvia Inflation May 2021

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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