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.

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Latvia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.60 0.00 17.70 -4.30 1998 - 2020 percent Monthly
2015=100


Calendar GMT Actual Previous Consensus TEForecast
2020-03-09 11:00 AM Feb 2.3% 2.2% 2.1%
2020-04-08 10:00 AM Mar 1.4% 2.3% 2.1%
2020-05-12 10:00 AM Apr 0% 1.4% 0.5%
2020-06-08 10:00 AM May -0.6% 0% -0.1%
2020-07-08 10:00 AM Jun -0.6% -0.3%
2020-08-10 10:00 AM Jul
2020-09-08 10:00 AM Aug
2020-10-08 10:00 AM Sep 0.1%


News Stream
Latvia Consumer Prices Fall the Most in 4 Years
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.
2020-06-08
Latvia Consumer Prices Unchanged in April
Consumer prices in Latvia were unchanged in April of 2020, the first time since August of 2016 and compared to a 1.4 percent rise in the previous month. Cost slowed for food & non-alcoholic beverages (3.2 percent vs 3.5 percent in March); restaurant & hotels (2.9 percent vs 3.6 percent); health (2.8 percent vs 3.5 percent) and communication (0.9 percent vs 1.2 percent). In addition, prices fell for transport (-7.5 percent vs -1.1 percent); housing & utilities (-1.5 percent vs -0.1 percent); clothing & footwear (-1.8 percent vs 2 percent) and education (-0.5 percent, the same as in March). On the other hand, cost advanced faster for furnishing & household equipment (1.5 percent vs 1.4 percent); recreation & culture (2 percent vs 1.9 percent); miscellaneous good & services (1.1 percent vs 1 percent) and alcoholic beverages & tobacco (1.5 percent vs a flat reading). On a monthly basis, consumer prices went down 0.5 percent, after a 0.3 percent gain in March.
2020-05-12
Latvia Inflation Rate Lowest since 2016
Annual inflation rate in Latvia fell to 1.4 percent in March of 2020 from 2.3 percent in February. It is the lowest rate since November of 2016, mainly due to a 4.7 percent fall in prices of fuels for transport, mainly diesel (-8.1 percent) and auto gas (-4.3 percent). On the other hand, the biggest upward pressure came from cost of food (3.5 percent), namely dried, salted or smoked meat (10.1 percent), pork (15.5 percent), poultry (6.5 percent), and meat products (10.1 percent). On a monthly basis, consumer prices rose 0.3 percent.
2020-04-08
Latvia Inflation Rate Rises to 2.3% in February
The annual inflation rate in Latvia edged up to 2.3 percent in February 2020 from 2.2 percent in the previous month. Prices advanced faster for food & non-alcoholic beverages (4.4 percent from 3.4 percent in January); restaurant & hotels (3.5 percent from 2.8 percent) and health (3.4 percent from 3.0 percent). In addition, cost rebounded for housing & utilities (0.1 percent from -0.3 percent) while prices slowed for transport (2.7 percent from 4.6 percent); recreation & culture (1.9 percent from 2.3 percent); alcoholic beverages & tobacco (1.5 percent from 2.5 percent) and furniture & household equipment (0.8 percent from 1.3 percent). On a monthly basis, consumer prices edged up 0.1 percent, after a 0.4 percent increase in January.
2020-03-09

Latvia Inflation Rate
In Latvia, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (23.7 percent of total weight). Housing and Utilities accounts for 16.2 percent; Transport for 13.6 percent; Alcoholic beverages and Tobacco for 8.2 percent; Recreation and Culture for 8 percent and Clothing and Footwear for 5.8 percent. Health; Miscellaneous Goods and Services; Furniture, Household Goods and Maintenance; Restaurants and Hotels; Communication and Education account for the remaining 24.5 percent of total weight.