Latvia: Inflation remains elevated in October
November 14, 2018
Consumer prices rose 0.7% over the previous month in October, broadly unchanged from September’s 0.6% month-on-month increase in prices. According to Latvia’s Central Statistical Bureau, the reading largely reflected higher prices for clothing and footwear, more than offsetting lower prices for miscellaneous goods.
Inflation in October remained unchanged at September’s 18-month high of 3.2%. In a similar fashion, annual average inflation remained stable at 2.5% in October.
Harmonized consumer prices rose 0.3% over the previous month in October, down from 0.6% in the previous month. Meanwhile, harmonized inflation came in at 3.2% in October, ticking down from 3.3% in September.
Latvia Inflation Forecast
FocusEconomics panelists see harmonized inflation averaging 2.6% in 2019, up 0.1 percentage points from the previous month’s forecast, and 2.5% in 2020.
Author: Almanas Stanapedis, Economist