Latvia's annual inflation in October at 2.1%

The latest data published November 8 by the Central Statistical Bureau show that in October 2023, compared to October 2022, the average level of consumer prices increased by 2.1 %.

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 Compared to October 2022, in October 2023 the average level of consumer prices was mainly influenced by the rise in prices of food and non-alcoholic beverages (1.1 percentage point), alcoholic beverages and tobacco products (0.5 percentage points), health care (0.5 percentage points), goods and services related to recreation and culture (0.4 percentage points), as well as drop in prices of goods and services related to housing (1.3 percentage points) and goods and services related to transport (0.4 percentage points).

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Compared to September 2023, in October 2023 the average level of consumer prices decreased by 0.4 %. Drop in prices of goods and services related to housing (0.4 percentage points), miscellaneous goods and services group (0.2 percentage points), alcoholic beverages and tobacco products (0.1 percentage point), as well as rise in prices of food and non-alcoholic beverages (0.2 percentage points) contributed the most to the price level changes.

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Compared to 2015, in October 2023 consumer prices were 43.2 % higher. Prices of goods increased by 44.0 % and prices of services by 3

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9.1 %.

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