Latvia: Inflation picks up in May
June 8, 2018
Consumer prices increased 0.3% from the previous month in May, accelerating marginally from April’s 0.2% increase. According to Latvia’s Central Statistical Bureau, prices for 10 of the 12 components of the index rose over the previous month. Higher prices for communication, transport and miscellaneous goods led the overall increase, offsetting decreases in the prices of recreation and culture, and clothing and footwear.
Inflation jumped to a six-month high of 2.3% in May, up from 2.0% in April. Meanwhile, annual average inflation remained stable from a month earlier at 2.5%.
Harmonized consumer prices rose 0.5% month-on-month in May, up from the previous month’s 0.3% increase. Meanwhile, harmonized inflation came in at 2.4% in May, up from 2.1% in April. Finally, annual average harmonized inflation remained stable at April’s 2.5% figure in May.
Author: Almanas Stanapedis, Economist