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Latvia Inflation

Latvia Inflation

Inflation in Latvia

Harmonized consumer price inflation averaged 3.0% in the ten years to 2022. The 2022 average figure was 17.2%. For more inflation information, visit our dedicated page.

Latvia Inflation Chart

Note: This chart displays Inflation (HICP, ann. var. %, aop) for Latvia from 2015 to 2023.
Source: Central Statistical Bureau of Latvia.

Latvia Inflation Data

2018 2019 2020 2021 2022
Inflation (HICP, ann. var. %, aop) 2.6 2.7 0.1 3.2 17.2
Inflation (CPI, ann. var. %, eop) 2.5 2.3 -0.5 7.8 20.9
Inflation (HICP, ann. var. %, eop) 2.5 2.1 -0.5 7.9 20.7
Inflation (PPI, ann. var. %, aop) 4.5 1.9 -1.9 13.1 30.7

Harmonized inflation comes in at highest level since November 2023 in April

Harmonized inflation rose to 1.1% in April from March’s 1.0%. April's result marked the highest inflation rate since November 2023. The reading was primarily driven by a steeper rise in transport goods and services, coupled with stronger price growth for alcohol and tobacco. That said, inflation for food and non-alcoholic beverages softened. Moreover, prices for recreation grew at a more subdued pace. Annual average harmonized inflation fell to 3.6% in April (March: 4.7%). Meanwhile, consumer price inflation ticked up to 1.1% in April, from March’s 0.9%. Lastly, harmonized consumer prices increased 0.53% in April over the previous month, which was below the 1.17% rise recorded in March.

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 15 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

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