Consumer prices in Latvia fell 0.6 percent over a year earlier in May 2020, after being unchanged in the previous month. It was the largest decline in consumer prices since May 2016, as cost eased for food & non-alcoholic beverages (2.5 percent vs 3.2 percent in April); recreation & culture (1.1 percent vs 2 percent); restaurant & hotels (2.6 percent vs 2.9 percent); health (2.2 percent vs 2.8 percent); and miscellaneous goods & services (0.9 percent vs 1.1 percent). Also, prices continued to fall for transport (-9.6 percent vs -7.5 percent); housing & utilities (-1.5 percent, the same as in April); clothing & footwear (-2.9 percent vs -1.8 percent) and education (-0.5 percent, the same as in April). In contrast, cost advanced further for furnishing & household equipment (1.9 percent vs 1.5 percent); and communication (1.4 percent vs 0.9 percent). On a monthly basis, consumer prices went down 0.4 percent, after dropping 0.5 percent in the prior month.
Inflation Rate in Latvia averaged 3.57 percent from 1998 until 2020, reaching an all time high of 17.70 percent in May of 2008 and a record low of -4.30 percent in February of 2010. This page provides - Latvia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Central Statistical Bureau of Latvia
Inflation Rate in Latvia is expected to be -0.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Latvia to stand at 0.90 in 12 months time. In the long-term, the Latvia Inflation Rate is projected to trend around 2.00 percent in 2021 and 2.20 percent in 2022, according to our econometric models.