Inflation in Latvia
Latvia - Inflation
Consumer prices register biggest fall in four years in May
Consumer prices dropped 0.37% in May over the previous month, a softer drop than the 0.55% drop logged in April. The upturn was broad-based, chiefly reflecting higher prices for food and non-alcoholic beverages. Prices for alcoholic beverages and tobacco dropped markedly, however.
Consumer prices declined 0.6% on an annual basis in May, a steeper fall compared to April’s flat reading. May's figure represented the largest fall in consumer prices since May 2016. In addition, the trend pointed down, with annual average inflation coming in at 2.0% in May (April: 2.3%).
FocusEconomics panelists see harmonized inflation averaging 0.5% in 2020, which is down 0.2 percentage points from the previous month’s forecast, and 1.7% in 2021.
Latvia - Inflation Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 0.2 | 0.2 | 2.9 | 2.5 | 2.8 |
Latvia Inflation Chart
Source: Central Statistical Bureau of Latvia and FocusEconomics calculations.
Latvia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.55 | 0.0 % | Jun 30 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Latvia: Industrial activity falls at softer pace in May
July 6, 2020
Industrial output slid 6.4% in year-on-year terms in May, which was a smaller drop than April's 9.2% decrease.
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Latvia: Consumer prices register biggest fall in four years in May
June 8, 2020
Consumer prices dropped 0.37% in May over the previous month, a softer drop than the 0.55% drop logged in April.
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Latvia: Industrial activity drops at sharpest rate since October 2009 in April
June 3, 2020
Industrial output slid 9.2% year-on-year in April (March: -3.5% yoy).
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Latvia: GDP shrinks for the first time since 2010 in Q1 2020
May 29, 2020
The economy shrank 1.5% year-on-year in the first quarter, according to detailed national accounts data released by Latvia’s Statistical Institute on 29 May.
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Latvia: GDP contracts for the first time since 2010 in Q1 2020
April 30, 2020
The economy shrank 1.4% year-on-year in the first quarter of this year, according to preliminary national accounts data released by Latvia’s Statistical Institute on 30 April (Q4 2019: +1.0% year-on-year).
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