Latvia: Inflation ticks down in July
August 10, 2018
Consumer prices fell 0.8% over the previous month in July, swinging from June’s 0.7% increase. The print marked the strongest month-on-month contraction in prices in over three years. According to Latvia’s Central Statistical Bureau, prices for 5 of the 12 components of the index fell from the previous month. Lower prices for clothing and footwear, as well as for food, drove the result, offsetting higher prices for housing, and recreation and culture.
Inflation moderated to 2.6% in July, from 2.8% in June. Meanwhile, annual average inflation remained unchanged for the fourth consecutive month and stood at 2.5% in July.
Harmonized consumer prices fell 0.8% month-on-month in July, contrasting the previous month’s 0.7% increase. Meanwhile, harmonized inflation came in at 2.7% in July, unchanged from June’s result. Finally, annual average harmonized inflation remained stable in July at 2.5%.
Author: Almanas Stanapedis, Economist