Latvia Inflation

Inflation eases in June from May

Latest reading: Harmonized inflation fell to 3.3% on a year-on-year basis in June, following 3.5% in the prior month. Relative to the prior month's figures, there were milder price pressures for food and non-alcoholic beverages (-0.9% in annual terms vs -0.8% in May), transportation (+7.2% vs +11.3% in May) and restaurants and hotels (+5.0% vs +7.5% in May). In contrast, there were higher price pressures for housing and utilities (+7.2% vs +5.8% in May) and recreation (+4.6% vs +3.4% in May). Meanwhile, consumer prices increased 3.4% in annual terms in June, following a 3.5% rise in the previous month. Finally, harmonized consumer prices increased 0.04% in June in month-on-month terms, following a 0.56% rise in the prior month.

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 14 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.

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