Latvia Inflation July 2021

Latvia

Latvia: Inflation rises to over one-year high in July

August 10, 2021

Consumer prices increased 0.36% from the previous month in July, matching June's reading. Looking at the details of the release, quicker price growth for housing were offset by falling prices for food and non-alcoholic beverages.



Inflation inched up to 2.8% in July, slightly above June’s 2.7%. July's figure marked the highest inflation rate since August 2019. Meanwhile, the trend pointed up slightly, with annual average inflation coming in at 0.6% in July (June: 0.4%). Lastly, harmonized inflation rose to 2.8% in July following the prior month’s 2.7% result.

FocusEconomics panelists see harmonized inflation averaging 1.9% in 2021, which is up 0.3 percentage points from the previous month’s forecast, and 2.3% in 2022.


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Latvia Inflation July 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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