Latvia Inflation March 2017

Latvia

Latvia: Inflation rises in March to highest rate in five years

April 10, 2017

In March, consumer prices in Latvia increased 0.9% from the previous month, which came in above February’s 0.4% increase. According to the Central Statistical Bureau, March’s figure stemmed mainly from higher prices for food, clothing and footwear as well as for alcohol and tobacco.

Inflation increased from 3.2% in February to 3.4% in March and marked the highest rate since March 2012. Due to the rise, the annual average variation in consumer prices increased from February’s 0.7% to 1.1% in March.

Harmonized consumer prices—derived from the Harmonized Index of Consumer Prices (HICP)—increased 0.9% month-on-month in March, which was above the 0.4% rise recorded in February. HICP inflation rose to 3.3% in March from 3.2% in February. The annual average variation in HICP inflation rose from 0.7% in February to 1.0% in March.

FocusEconomics Consensus Forecast panelists expect HICP inflation to be flat in 2016, which is down 0.1 percentage points from last month’s projection. For 2017, the panel expects inflation to average 1.9%.


Author:, Economist

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Latvia Inflation Chart


Latvia Inflation March 2017

Note: Month-on-month changes and annual variation of consumer price index (CPI) in %.
Source: Central Statistical Bureau.


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