Consumer prices in Latvia fell 0.5 percent year-on-year in January of 2021, the same as in the prior month. It is the sixth straight month of deflation, mainly due to lower prices of food and non-alcoholic beverages (-0.1 percent vs 1.1 percent in December); housing & utilities (-2.6 percent vs -3.6 percent); transports (-4.7 percent vs -4.6 percent) and miscellaneous goods & services (-0.8 percent vs -1.5 percent). On a monthly basis, consumer prices edged up 0.4 percent, after a flat reading in the previous month. source: Central Statistical Bureau of Latvia

Inflation Rate in Latvia averaged 3.45 percent from 1998 until 2021, 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 February 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.

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Latvia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.50 -0.50 17.70 -4.30 1998 - 2021 percent Monthly
2015=100


Calendar GMT Actual Previous Consensus TEForecast
2020-11-09 11:00 AM Oct -0.7% -0.3% -0.3%
2020-12-08 11:00 AM Nov -0.7% -0.7% -0.5%
2021-01-12 11:00 AM Dec -0.5% -0.7% -0.3%
2021-02-10 11:00 AM Jan -0.5% -0.5% -0.1%
2021-03-08 11:00 AM Feb -0.5%
2021-04-08 10:00 AM Mar
2021-05-12 10:00 AM Apr
2021-06-08 10:00 AM May
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Latvia Consumer Prices Drop for 6th Month
Consumer prices in Latvia fell 0.5 percent year-on-year in January of 2021, the same as in the prior month. It is the sixth straight month of deflation, mainly due to lower prices of food and non-alcoholic beverages (-0.1 percent vs 1.1 percent in December); housing & utilities (-2.6 percent vs -3.6 percent); transports (-4.7 percent vs -4.6 percent) and miscellaneous goods & services (-0.8 percent vs -1.5 percent). On a monthly basis, consumer prices edged up 0.4 percent, after a flat reading in the previous month.
2021-02-10
Latvia CPI Falls for 5th Month
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.
2021-01-12
Latvia CPI Falls for 4th Month
Consumer prices in Latvia fell 0.7 percent year-on-year in November of 2020, the same as in the previous month. It was the fourth consecutive month of fall in the consumer prices index. Prices continued to drop for housing & utilities (-4.6 percent vs -4.8 percent in October); transport (-5.3 percent vs -5.5 percent) and miscellaneous goods & services (-1 percent vs -0.8 percent). Meantime, cost advanced faster for food & non-alcoholic beverages (1.6 percent vs 1.1 percent); furniture & household goods (0.8 percent vs 0.4 percent) and health (3.2 percent vs 2.7 percent). On the other hand, cost slowed for restaurant & hotels (1.8 percent vs 2.3 percent); recreation & culture (2.3 percent vs 2.5 percent) and alcoholic beverages & tobacco (1.3 percent vs 1.6 percent). On a monthly basis, consumer prices went down 0.3 percent, after being unchanged in October.
2020-12-08
Latvia Deflation Deepens in October
Latvia's consumer prices dropped 0.7 percent from a year earlier in October 2020, following a 0.3 percent fall in the previous month. It was the biggest price decline since June, as cost was down for housing, water, electricity, gas and other fuels (-4.8 percent vs -4.3 percent in September), goods and services related to transport (-5.5 percent vs -4.3 percent), and clothing and footwear (-0.4 percent vs 0.0 percent). At the same time, food and non-alcoholic beverages inflation slowed to 1.1 percent from 2.2 percent. On a monthly basis, consumer prices were flat.
2020-11-09

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.