Latvia: Latvia registers second annual drop in consumer prices in February
March 9, 2015
In February, consumer prices rose 0.3% over the previous month, which came in above the 0.1% increase tallied in January. February’s increase was the result of higher prices for food and non-alcoholic beverages as well as for transport.
Consumer prices fell 0.1% over the same month last year, which followed the 0.4% drop observed in January. The reading marked the second annual decline in consumer prices since December 2013. Meanwhile, annual HICP consumer prices—based on the harmonized index of consumer prices— fell 0.3% annually in January, which is the last month for which data are available. The reading contrasted the 0.3% increase tallied in December. Annual average HICP inflation inched down from 0.7% in December to 0.6% in January.
Author: Ricardo Aceves, Senior Economist