Latvia: Inflation jumps in June
July 16, 2018
Consumer prices rose 0.6% over the previous month in June, up from May’s 0.3% increase. According to Latvia’s Central Statistical Bureau, prices for 7 of the 12 components of the index rose from the previous month. Higher prices for transport, housing, and alcoholic beverages and tobacco largely drove the uptick.
Inflation jumped to an eight-month high of 2.8% in June from 2.3% in May. Meanwhile, annual average inflation came in at 2.5% in June, matching May’s print.
Harmonized consumer prices rose 0.7% month-on-month in June, up from the previous month’s 0.5% increase. Meanwhile, harmonized inflation came in at 2.7% in June, above the 2.4% recorded in May. Finally, annual average harmonized inflation remained stable in June at May’s 2.5%.
Latvia Inflation Forecast
FocusEconomics Consensus Forecast panelists expect HICP inflation to average 2.6% in 2018, which is unchanged from last month’s projection. For 2019, the panel also expects HICP inflation to average 2.6%.
Author: Lindsey Ice, Economist