Latvia: Inflation drops to lowest level since October 2021 in January
Consumer prices were unchanged in January over the previous month, below December’s 0.34% rise. January’s result marked the weakest reading since December 2020. Looking at the details of the release, prices for food and non-alcoholic beverages increased at a quicker rate in January while prices for transportation rebounded. Moreover, prices for alcoholic beverages and tobacco dropped.
Inflation came in at 7.5% in January, which was down from December’s 7.9%. January’s reading marked the weakest inflation rate since October 2021. Annual average inflation rose to 3.9% in January (December: 3.3%). Lastly, harmonized inflation fell to 7.5% in January, from December’s 7.9%.