Latvia Inflation November 2017

Latvia

Latvia: Inflation ticks down in November

December 18, 2017

In November, consumer prices rose 0.1% from the previous month, well below October’s 0.7% month-on-month increase and the lowest reading in three months. According to Latvia’s Central Statistical Bureau, 10 out of the 12 components of the index increased. Prices for food recorded the biggest increase, mainly due to higher prices for vegetables, and transport, and restaurant and hotels prices also rose considerably; transport prices rose on the back of higher fuel prices.

Inflation came in at an almost one-year low of 2.7% in November, down from 2.8% in October. Nevertheless, average annual inflation increased from 2.8% in October to 2.9% in November—the highest figure since August 2012.

Harmonized consumer prices increased 0.1% month-on-month in November, following the stronger 0.4% rise recorded in October. Meanwhile, HICP inflation came in at 2.7% in November, matching October’s reading. However, average HICP inflation rose from 2.8% in October to 2.9% in November, the highest rate in over five years.

FocusEconomics Consensus Forecast panelists expect HICP inflation to average 2.4% in 2018, which is up 0.2 percentage points from last month’s projection. For 2019, the panel expects HICP inflation to average 2.5%.


Author: Massimo Bassetti, Economist

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Latvia Inflation November 2017

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


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