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.
Inflation Rate in Latvia averaged 3.55 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 August of 2020. source: Central Statistical Bureau of Latvia
Inflation Rate in Latvia is expected to be 0.10 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.