Latvia: Inflation inches down in March
April 8, 2014
In March, consumer prices rose 0.3% over the previous month, which came in above the flat reading registered in February. The increase reflected higher prices for clothing and footwear as well as for recreational and cultural activities.
Annual inflation edged down from 0.5% in February to 0.3% in March, the lowest rate in three months. Moreover, annual HICP inflation stabilized at January's 0.5% in February, which is the last month for which data are available. Annual average HICP inflation remained flat in February (January: 0.0% yoy).
The Central Bank expects HICP inflation to average 1.7% in 2014. FocusEconomics Consensus Forecast panelists expect HICP inflation to average 1.5% in 2014, which is down 0.2 percentage points from last month's projection. For 2015, the panel expects HICP inflation to average 2.3%.
Author: Ricardo Aceves, Senior Economist