Latvia: Inflation drops to 19-month low in November
December 9, 2019
Consumer prices fell 0.3% from the previous month in November, swinging from October’s 0.4% month-on-month increase and marking the first contraction since July. A breakdown of the sub-components showed that 8 of the total 12 sub-components saw a drop in prices, led by lower prices for clothing and footwear, and recreation and culture, which more than offset higher prices for miscellaneous goods.
Meanwhile, inflation continued trending down in the month dropping to a 19-month low of 2.1% in November, from 2.3% in October. In turn, annual average inflation edged down to 2.8% in October, from 2.9% in October.
Author: Almanas Stanapedis, Economist