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Latvia: Inflation eases in June

July 8, 2015

Consumer prices fell 0.3% in June over the previous month, which contrasted the 0.6% increase registered in May. The monthly fall reflected lower food prices as well as a drop in prices for clothing and footwear.

Inflation decelerated sharply in June. It fell from 1.1% in May to 0.6% in June. May’s print had marked the fastest inflation increase since December 2012. HICP inflation—based on the harmonized index of consumer prices—rose from 0.6% in April to 1.2% in May, which is the last month for which data are available. Annual average HICP inflation remained unchanged yet again in May at the 0.6% that has been recorded since January.

In January, the Central Bank trimmed its HICP inflation forecast for 2015 from 1.4% to 0.9%. FocusEconomics Consensus Forecast panelists expect HICP inflation to average 0.4% in 2015, which is down 0.1 percentage points from last month’s projection. For 2016, the panel expects inflation to average 1.9%.


Author:, Senior Economist

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Latvia Inflation Chart


Latvia Inflation June 2015

Note: Month-on-month changes and annual variation of consumer price index (CPI) in %.
Source: Central Statistics Bureau.


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