Consumer prices in Latvia fell 0.5 percent year-on-year in December of 2020, following a 0.7 percent decrease in the prior month and marking the fifth straight month of deflation. Main downward pressure came from prices of transport (-4.5 percent vs -5.3 percent in November); housing & utilities (-3.6 percent vs -4.6 percent); clothing & footwear (-2.9 percent vs -3.1 percent) and miscellaneous goods & services (-1.5 percent vs -1 percent). On a monthly basis, consumer prices were flat, after decreasing 0.3 percent in the previous month. source: Central Statistical Bureau of Latvia
Inflation Rate in Latvia averaged 3.46 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 January of 2021.
Inflation Rate in Latvia is expected to be 0.50 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 2.00 in 12 months time. In the long-term, the Latvia Inflation Rate is projected to trend around 2.00 percent in 2022 and 2.20 percent in 2023, according to our econometric models.