Consumer prices in Latvia fell 0.3 percent year-on-year in September of 2020, following a 0.2 percent drop in the previous month. Cost of housing declined further (-4.3 percent vs -4.2 percent in August), namely heat energy, natural gas, electricity, solid fuels and rentals for housing; transport (-4.3 percent, the same as in August), namely fuels for transport; prices of miscellaneous goods & services dropped (-1.6 percent vs a flat reading). Also, prices slowed for furnishings & household equipment (0.8 percent vs 1.5 percent); health (2.6 percent vs 3.2 percent); and restaurants &hotels (2.4 percent vs 3 percent). Meanwhile, cost of food & beverages advanced at a faster pace (2.2 percent vs 2 percent). On a monthly basis, consumer prices were unchanged, after decreasing 0.5 percent in the prior month. source: Central Statistical Bureau of Latvia

Inflation Rate in Latvia averaged 3.51 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 October of 2020.

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 1.50 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
-0.30 -0.20 17.70 -4.30 1998 - 2020 percent Monthly
2015=100


Calendar GMT Actual Previous Consensus TEForecast
2020-07-08 10:00 AM Jun -0.7% -0.6% -0.3%
2020-08-10 10:00 AM Jul 0.5% -0.7% -0.3%
2020-09-08 10:00 AM Aug -0.2% 0.5% 0.3%
2020-10-08 10:00 AM Sep -0.3% -0.2% 0.1%
2020-11-09 11:00 AM Oct -0.3%
2020-12-08 11:00 AM Nov


News Stream
Latvia Deflation Deepens in September
Consumer prices in Latvia fell 0.3 percent year-on-year in September of 2020, following a 0.2 percent drop in the previous month. Cost of housing declined further (-4.3 percent vs -4.2 percent in August), namely heat energy, natural gas, electricity, solid fuels and rentals for housing; transport (-4.3 percent, the same as in August), namely fuels for transport; prices of miscellaneous goods & services dropped (-1.6 percent vs a flat reading). Also, prices slowed for furnishings & household equipment (0.8 percent vs 1.5 percent); health (2.6 percent vs 3.2 percent); and restaurants &hotels (2.4 percent vs 3 percent). Meanwhile, cost of food & beverages advanced at a faster pace (2.2 percent vs 2 percent). On a monthly basis, consumer prices were unchanged, after decreasing 0.5 percent in the prior month.
2020-10-08
Latvia Back to Deflation in August
Consumer prices in Latvia were down 0.2 percent year-on-year in August of 2020 after rising 0.5 percent in July. Prices of goods fell 1 percent while prices of services increased 1.6 percent. Main downward pressures came from cost of housing (-4.2 percent), namely heat energy, natural gas, electricity, solid fuels and rentals for housing; transport (-4.3 percent), namely fuels for transport; and clothing and footwear (-0.3 percent). In contrast prices increased for food and beverages (2 percent), health care (3.2 percent), recreation and culture (2 percent), restaurants and hotels (3 percent). On a monthly basis, consumer prices declined 0.5 percent.
2020-09-08
Latvia July Inflation Rate at 4-Month High of 0.5%
Latvia's consumer prices rose 0.5 percent over a year earlier in July 2020, rebounding from a 0.7 percent drop in the previous month. It was the highest inflation rate in four months, boosted by higher cost of food & non-alcoholic beverages (2.8 percent vs 1.0 percent in June) namely fresh fruit (+19.6 percent) and dried, salted or smoked meat (of +8.3 percent). Also, prices of clothing & footwear rebounded (2.2 percent vs -2.7 percent) and cost of alcohol & tobacco increased (0.6 percent vs a flat reading). Additionally, prices fell less for transport (-3.9 percent vs -6.2 percent) and housing (-1.9 percent vs -2.3 percent) while inflation was steady for recreation & culture (at 1.8 percent). On a monthly basis, consumer prices went up 0.2 percent, the same as in the prior month.
2020-08-10
Latvia CPI Falls the Most in 4 Years
Latvia's consumer prices declined by 0.7 percent from a year earlier in June 2020, the most for over four years, with downward pressure coming from transport (-6.2 percent vs -9.6 percent in May), housing (-2.3 percent vs -1.5 percent) and clothing, footwear (-2.7 percent vs -2.9 percent). Meanwhile, alcohol, tobacco prices were unchanged (vs 1.5 percent in May), while cost rose for food (1.0 percent vs 2.5 percent) and recreation, culture (1.8 percent vs 1.1 percent). On a monthly basis, consumer prices increased by 0.2 percent, the first rise in three months, as the country reopened from a coronavirus-induced lockdown.
2020-07-08

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.