Latvia Inflation February 2017

Latvia

Latvia: Inflation rises to highest level in nearly five yearsInflation rises in February to highest level in nearly five years

March 10, 2017

In February, consumer prices increased 0.4% from the previous month, which came in above January’s 0.1% increase. According to the Central Statistical Bureau, February’s figure stemmed mainly from higher prices of food and non-alcoholic beverages as well as for services related to transportation, while prices for clothing and footwear declined from the previous month.

Inflation increased from 2.9% in January to 3.2% in February and marked the highest level since March 2012. Due to the rise, the annual average variation in consumer prices increased from January’s 0.4% to 0.7% in February.

Harmonized consumer prices—derived from the Harmonized Index of Consumer Prices (HICP)—increased 0.4% month-on-month in February, which was above the 0.1% rise recorded in January. HICP inflation rose to 3.2% in February from 2.9% in January. The annual average variation in HICP inflation inched up from 0.14% in January to 0.47% in February.

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 February 2017

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


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