Latvia: Inflation rises in March
April 23, 2018
In March, consumer prices jumped 1.2% from the previous month, following February’s much lower 0.3% increase. According to Latvia’s Central Statistical Bureau, prices for 9 out of the 12 components of the index increased over the previous month. Prices for clothing and footwear, and alcohol and tobacco recorded the biggest increases. On the other hand, the only decrease was recorded in prices for food.
Inflation came in at a four-month high of 2.2% in March, up from 1.8 in February. Meanwhile, average annual inflation dropped from 2.7% in February to 2.6%.
Harmonized consumer prices rose 1.3% month-on-month in March, up from February’s 0.2% increase. HICP inflation came in at 2.3% in March, above 1.8% in February. Lastly, average HICP inflation came in at 2.6% in March, down from February’s 2.7%.
Latvia Inflation Forecast
FocusEconomics Consensus Forecast panelists expect HICP inflation to average 2.4% in 2018, which is up 0.1 percentage points from last month’s projection. For 2019, the panel expects HICP inflation to average 2.5%.
