Latvia: Inflation continues to climb in October
November 8, 2016
In October, consumer prices jumped 0.8% from the previous month, which came in above September’s 0.4% increase. According to the Central Statistical Bureau, the monthly jump stemmed from higher prices for food and non-alcoholic beverages, clothing, and transport.
Inflation shot up from 0.6% in September to 1.1% in October, the highest level in 17 months. Due to the jump, the annual average variation in consumer prices inched up from September’s minus 0.2% to minus 0.1% in October.
Harmonized consumer prices—derived from the Harmonized Index of Consumer Prices (HICP)—increased 0.6% month-on-month in October, which was up from the 0.4% rise in September. HICP inflation jumped to 1.1% in October from 0.5% in September. The annual average variation in HICP inflation inched up from minus 0.2% in September to minus 0.1% in October.
Author: Ricardo Aceves, Senior Economist