Latvia: Inflation ticks down in July
August 12, 2019
Consumer prices fell 1.0% in July from the previous month in July, contrasting June’s 0.4% increase and marking the strongest monthly contraction since July 2015.
According to a breakdown of the sub-components provided by Latvia’s Central Statistical Bureau, 5 of the total 12 saw a fall in prices, led by clothing and footwear, food, and miscellaneous goods and services which more than offset higher prices for recreation and culture, alcohol and tobacco, and health.
Inflation moderated from 3.0% in June to 2.9% in July. Meanwhile, annual average inflation remained stable at May’s near seven-year high of 3.0% in July. Similarly, harmonized inflation edged down from 3.1% in June to 3.0% in July.
Author: Almanas Stanapedis, Economist