Latvia Inflation Rate Hits 14-Month Low

2026-02-11 11:29 By Czyrill Jean Coloma 1 min. read

The annual inflation rate slowed to 2.9% in January 2025 from 3.5% in December, marking the lowest reading since November 2024.

The CSB will use a new reference period in calculating the consumer price index, with the average level of 2025 assigned an index value of 100.

The CPI in Latvia and the European Union is compiled in accordance with the updated European Classification of Individual Consumption According to Purpose (ECOICOP), version 2.

Prices moderated for food and non-alcoholic beverages (3.9% vs 4.2% in December) and housing (6% vs 6.9%), while costs slipped for transport (-2.2% vs 0.6%).

Overall inflation was also influenced by slower price growth in recreation, sport and culture (1.5% vs 2.6%) and information and communication (2.5% vs 2.8%).

Meanwhile, costs accelerated for alcoholic beverages and tobacco (0.8% vs 0.2%), health (3% vs 2.5%), and clothing and footwear (2.4% vs 2%).

On a monthly basis, consumer prices stalled after a 0.1% fall in December 2025.



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Latvia Inflation Rate Hits 14-Month Low
The annual inflation rate slowed to 2.9% in January 2025 from 3.5% in December, marking the lowest reading since November 2024. The CSB will use a new reference period in calculating the consumer price index, with the average level of 2025 assigned an index value of 100. The CPI in Latvia and the European Union is compiled in accordance with the updated European Classification of Individual Consumption According to Purpose (ECOICOP), version 2. Prices moderated for food and non-alcoholic beverages (3.9% vs 4.2% in December) and housing (6% vs 6.9%), while costs slipped for transport (-2.2% vs 0.6%). Overall inflation was also influenced by slower price growth in recreation, sport and culture (1.5% vs 2.6%) and information and communication (2.5% vs 2.8%). Meanwhile, costs accelerated for alcoholic beverages and tobacco (0.8% vs 0.2%), health (3% vs 2.5%), and clothing and footwear (2.4% vs 2%). On a monthly basis, consumer prices stalled after a 0.1% fall in December 2025.
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The annual inflation rate in Latvia slowed to 3.8% in November 2025, the lowest in four months, easing from 4.3% in October. The moderation was driven by slower price growth in food (5.2% vs 5.6%), transport (2.2% vs 2.6%), miscellaneous goods and services (0.8% vs 4.5%), recreation and culture (2.0% vs 2.3%), health (3.7% vs 4.0%), alcohol and tobacco (2.1% vs 2.4%) and communication (2.7% vs 3.0%). Prices remained stable for housing (6.2%) and restaurants and hotels (5.4%), while costs accelerated in clothing and footwear (1.7% vs 1.4%). On a monthly basis, consumer prices fell 0.3% in November, reversing a 0.4% increase in October and marking the sharpest decline since August 2024.
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