Latvia: Inflation edges up in August
September 9, 2019
Consumer prices ticked up 0.2% from the previous month in August, contrasting July’s 1.0% drop, which had marked the strongest monthly contraction since July 2015.
According to a breakdown of the sub-components provided by Latvia’s Central Statistical Bureau, 5 of the total 12 sub-components saw an increase in prices, led by housing, clothing and footwear, and recreation and culture which more than offset lower prices for miscellaneous goods and services, furnishings, and food.
Inflation edged up to 3.2% in August, from 2.9% in July. Meanwhile, annual average inflation remained stable at May’s near seven-year high of 3.0% in August. Lastly, harmonized inflation ticked up to 3.1% in August, from 3.0% in July.
Author: Almanas Stanapedis, Research Team Manager