Latvia: Inflation hits neat 13-year high in November
December 8, 2021
Consumer prices increased 1.05 in November over the previous month, below October's 1.14% rise. Looking at the details of the release, prices for transportation increased at a slower pace, while prices for alcoholic beverages and tobacco dropped. However, prices for food and non-alcoholic beverages and housing and utilities increased at a quicker pace.
Inflation increased to 7.5% in November, above October’s 6.0%. November's reading was the highest inflation rate since March 2009. Consequently, the trend pointed up, with annual average inflation coming in at 2.6% in November (October: 1.9%). Lastly, harmonized inflation rose to 7.4% in November, from October’s 6.0%.