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.
Author: Luis Lopez Vivas, Economist