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%).
Author: Almanas Stanapedis, Economist