Inflation rate picked up in Latvia in March

The latest data published by the Central Statistical Bureau (CSB) April 9 show that in March 2024, compared to March 2023, the average level of consumer prices increased by 0.9 %.

Nevertheless it remains far below the equivalent rate recorded in March 2023 of 17.3 %.

Compared to March 2023, in March 2024 the average level of consumer prices was mainly influenced by the rise in prices of health care (0.4 percentage points), alcoholic beverages and tobacco products (0.3 percentage points), goods and services related to transport (0.3 percentage points), as well as drop in prices of goods and services related to housing (1.3 percentage points).

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Compared to February 2024, in March 2024 the average level of consumer prices increased by 1.2 %. A rise in prices of clothing and footwear (0.4 percentage points), goods and services related to transport (0.2 percentage points), as well as 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 March 2024 consumer prices were 45.1 % higher. Prices of goods increased by 45.3 % and prices of services by 42.8 %.

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