Latvia: Inflation rises in May from the prior month
Latest reading: Harmonized consumer prices increased 3.5% on a year-on-year basis in May, following a 2.9% increase in the prior month.
Relative to the prior month’s figures, there were higher price pressures for transportation (+11.3% on a year-on-year basis vs +8.8% in April), housing and utilities (+5.8% vs +5.1% in April), recreation (+3.4% vs +1.9% in April) and restaurants and hotels (+7.5% vs +5.3% in April). In contrast, price pressures reduced for food and non-alcoholic beverages in May (-0.8% vs -0.3% in April).
Meanwhile, consumer prices rose 3.5% in annual terms in May, following a 2.9% increase in the prior month.
Lastly, harmonized consumer prices increased 0.56% in May on a month-on-month basis, following a 0.60% increase in the prior month.