Latvia Inflation July 2020

Latvia

Latvia: Inflation hits highest level since March in July

August 13, 2020

Consumer prices increased 0.28% in July over the previous month, picking up from June's 0.18% rise. July's figure was the sharpest increase in prices since January. The acceleration was largely driven by rising prices for food and non-alcoholic beverages. Prices for alcoholic beverages and tobacco goods also gained steam.

Inflation came in at 0.5% in July, contrasting June’s 0.7% drop in consumer prices. July's result represented the highest inflation rate since March. Meanwhile, the trend pointed down mildly, with annual average inflation coming in at 1.4% in July (June: 1.6%).

FocusEconomics panelists see harmonized inflation averaging 0.6% in 2020, which is up 0.2 percentage points from the previous month’s forecast, and 1.7% in 2021.


Author:, Economist

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Latvia Inflation July 20 20

Source: Central Statistics Bureau and FocusEconomics Consensus Forecast.


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