Annual inflation at 0.7% in Latvia

The latest data published August 8 by the Central Statistical Bureau show that in July 2024, compared to July 2023, the average level of consumer prices increased by 0.7 %.

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Compared to July 2023, in July 2024 the average level of consumer prices was mainly influenced by the rise in prices of food and non-alcoholic beverages (0.6 percentage points), alcoholic beverages and tobacco products (0.5 percentage points), goods and services related to transport (0.5 percentage points), health care (0.3 percentage points), as well as drop in prices of goods and services related to housing (2.2 percentage points).

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Compared to June 2024, in July 2024 the average level of consumer prices increased by 0.1 %. Rise in prices within miscellaneous goods and services group (0.1 percentage point), goods and services related to transport (0.1 percentage point), alcoholic beverages and tobacco products (0.1 percentage point), as well as drop in prices of clothing and footwear (0.3 percentage points), food and non-alcoholic beverages (0.1 percentage point) had the most significant impact on the monthly price changes.

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Compared to 2015, in July 2024 consumer prices were 46.2 % higher. Prices of goods increased by 45.2 % and prices of services by 46.9 %.

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