Latvia: Inflation moderates in May
June 9, 2014
In May, consumer prices fell 0.1% over the previous month, which contrasted the 0.5% increase registered in April. The increase stemmed from lower prices for food, furnishing and recreation and culture.Annual headline inflation fell from 0.8% in April to 0.6% in May. April’s inflation figure had marked the highest level that has been recorded since December 2012. Annual HICP inflation stabilized at April’s 0.8% in May. Annual average HICP inflation inched up from 0.1% in April to 0.2% in May. The Central Bank expects HICP inflation to average 1.7% in 2014. FocusEconomics Consensus Forecast panelists expect HICP inflation to average 1.3% in 2014, which is down 0.1 percentage points from last month’s projection. For 2015, the panel expects HICP inflation to average 2.2%.
Author: Ricardo Aceves, Senior Economist