Consumer prices in Latvia rose by 20.3 percent year-on-year in February 2023, easing from a 21.5 percent gain in the previous month and marking the weakest pace since June 2022. Inflation slowed primarily for housing & utilities (46.6 vs 48.1 percent in January); food & non-alcoholic beverages (25.3 vs 28.2 percent); restaurants & hotels (18.2 vs 18.6 percent); and miscellaneous goods & services (17.2 vs 17.4 percent). On the other hand, it accelerated the most for recreation & culture (11.5 vs 11.1 percent); education (12.3 vs 11.9 percent); alcoholic beverages & tobacco products (7.8 vs 7.4 percent). On a monthly basis, consumer prices increased by 0.6 percent in February, slightly up from the prior 0.5 percent. source: Central Statistical Bureau of Latvia

Inflation Rate in Latvia averaged 4.12 percent from 1998 until 2023, reaching an all time high of 22.20 percent in September of 2022 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 March of 2023.

Inflation Rate in Latvia is expected to be 16.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Latvia Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-02-10 11:00 AM Jan 21.5% 20.8% 21.7%
2023-03-08 11:00 AM Feb 20.3% 21.5% 20.3%
2023-04-12 10:00 AM Mar 16.5%


Related Last Previous Unit Reference
Inflation Rate 20.30 21.50 percent Feb 2023
Inflation Rate MoM 0.60 0.50 percent Feb 2023
Consumer Price Index CPI 142.80 141.90 points Feb 2023
GDP Deflator 1.41 1.39 percent Dec 2022
Producer Prices 163.90 165.10 points Feb 2023
Producer Prices Change 22.00 22.40 percent Feb 2023
Export Prices 143.40 144.20 points Dec 2022
Import Prices 126.80 129.10 points Dec 2022
Food Inflation 25.30 28.20 percent Feb 2023
CPI Transportation 132.40 132.00 points Feb 2023
CPI Housing Utilities 171.20 171.40 points Feb 2023

Latvia Inflation Rate
In Latvia, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (26 percent of total weight). Housing and Utilities accounts for 17 percent; Transport for 14 percent; Alcoholic beverages and Tobacco for 8 percent; Recreation and Culture for 7 percent; Health for 6 percent; and Clothing and Footwear for 5 percent. Miscellaneous Goods and Services; Furniture, Household Equipment and Maintenance; Restaurants and Hotels; Communication; and Education account for the remaining 17 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
20.30 21.50 22.20 -4.30 1998 - 2023 percent Monthly
2015=100

News Stream
Latvia Inflation Rate Eases in February
Consumer prices in Latvia rose by 20.3 percent year-on-year in February 2023, easing from a 21.5 percent gain in the previous month and marking the weakest pace since June 2022. Inflation slowed primarily for housing & utilities (46.6 vs 48.1 percent in January); food & non-alcoholic beverages (25.3 vs 28.2 percent); restaurants & hotels (18.2 vs 18.6 percent); and miscellaneous goods & services (17.2 vs 17.4 percent). On the other hand, it accelerated the most for recreation & culture (11.5 vs 11.1 percent); education (12.3 vs 11.9 percent); alcoholic beverages & tobacco products (7.8 vs 7.4 percent). On a monthly basis, consumer prices increased by 0.6 percent in February, slightly up from the prior 0.5 percent.
2023-03-08
Latvia Inflation Rate Rises in January
Consumer prices in Latvia rose to 21.5 percent in January 2023, from a 20.8 percent gain in the previous month. Main upward pressures come from housing & utilities (48.1 percent vs 42.8 percent in December), alcoholic beverages & tobacco products (7.4 percent vs 6 percent), recreation & culture (11.1 percent vs 9.4 percent), education (11.9 percent vs 7.2 percent) and health (10.3 percent vs 9.7 percent). On the other hand, inflation eased for food & non-alcoholic beverages (28.2 percent vs 29 percent), clothing & footwear (3.9 percent vs 5.3 percent), transport (12.3 percent vs 12.6 percent) and restaurants & hotels (18.6 percent vs 19.1 percent). On a monthly basis, consumer prices rose by 0.5 percent in January, following a 0.5 percent drop in December.
2023-02-10
Latvia Inflation Rate at 6-Month Low
Consumer prices in Latvia eased to 20.8 percent in December 2022, from a 21.8 percent rise in the previous month. It was the lowest inflation rate since June amid a slowdown in prices of housing & utilities (42.8 percent vs 44.4 percent in November), transport (12.6 percent vs 18.2 percent), clothing & footwear (5.3 percent vs 6.2 percent), alcoholic beverages & tobacco products (6 percent vs 6.2 percent) and food & non-alcoholic beverages (29 percent vs 29.5 percent). On the other hand, inflation accelerated for recreation & culture (9.4 percent vs 8.8 percent), communication (6.7 percent vs 4.9 percent) and health (9.7 percent vs 9.1 percent). On a monthly basis, consumer prices fell by 0.5 percent in December, following a 1.1 percent surge in November.
2023-01-11