Latest reading: Inflation ticked up to 4.9% in July, above June’s 4.8%, exceeding market expectations and remaining above the Central...
Inflation in Latvia
Harmonized consumer price inflation averaged 3.7% in the ten years to 2024. The 2024 average figure was 1.3%. For more inflation information, visit our dedicated page.
Latvia Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Latvia from 2024 to 2023.
Source: Macrobond.
Latvia Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | 0.1 | 3.2 | 17.2 | 9.1 | 1.3 |
| Inflation (CPI, ann. var. %, eop) | -0.5 | 7.8 | 20.9 | 0.6 | 3.2 |
| Inflation (HICP, ann. var. %, eop) | -0.5 | 7.9 | 20.7 | 0.9 | 3.4 |
| Inflation (PPI, ann. var. %, aop) | -1.9 | 13.1 | 30.7 | 1.1 | -3.8 |
Harmonized inflation increases in June
Latest reading: Harmonized inflation came in at 3.9% in June, which was up from May’s 3.7%. The uptick stemmed from stronger price pressures for housing and utilities plus a softer fall in transport costs. Annual average harmonized inflation rose to 2.7% in June (May: 2.5%). Meanwhile, consumer price inflation ticked up to 3.8% in June from the previous month's 3.6%. Finally, harmonized consumer prices increased 0.22% in June over the previous month, after the 0.05% increase seen in May.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Latvian inflation projections for the next ten years from a panel of 13 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Latvian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Latvian inflation projections.
Want to get access to the full dataset of Latvian inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
-
Colombia: Inflation rises in July -
Mexico: Inflation declines to lowest level since December 2020 in July Latest reading: Inflation decelerated to 3.5% in July (June: 4.3%), returning to the Central Bank’s 2.0–4.0% target range. July’s figure... -
Costa Rica: Consumer prices register biggest fall since October 2024 in July Latest reading: Consumer prices fell 0.6% year-on-year in July, a steeper fall compared to June’s 0.2% year-on-year fall. July’s result... -
Ecuador: Inflation drops in July Latest reading: Inflation dropped to 0.7% in July, below June’s 1.5%. Looking at the details of the release, transportation costs... -
Uruguay: Inflation falls to over one-year low in July Latest reading: Inflation inched down to 4.5% in July from June’s 4.6%, marking the weakest inflation rate since May 2024.... -
Korea: Inflation moderates in July Latest reading: Inflation inched down to 2.1% in July from June’s 2.2%, matching market expectations and remaining broadly slightly above... -
Dominican Republic: Inflation dips in July Latest reading: Inflation came in at 3.4% in July, down from June’s 3.6% and marking the weakest inflation rate since...