Latvia Inflation March 2021

Latvia

Latvia: Inflation returns in March after seven months of falling prices

April 9, 2021

Consumer prices rose 0.73% over the previous month in March, quickening from February’s 0.46% increase. March’s result primarily reflected faster price growth for recreation and culture, as well as a rebound in prices for alcoholic beverages and tobacco.

Consumer prices rose 0.3% year-on-year in March, after falling 0.2% in February and marked the first annual increase in consumer prices since July 2020. Meanwhile, the annual average variation of consumer prices came in at minus 0.3%, down slightly from minus 0.2% in February. Lastly, harmonized consumer prices increased 0.3% on an annual basis, after they dropped 0.2% in the previous month.

FocusEconomics panelists see harmonized inflation averaging 1.3% in 2021, which is unchanged from the previous month’s forecast, and 2.0% in 2022.


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Latvia Inflation March 2021

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Central Statistics Bureau and FocusEconomics Consensus Forecast.


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