Latvia Inflation Rate1998-2020 Data | 2021-2022 Forecast | Calendar | Historical

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.

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.

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.

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.