Annual inflation down to 3.3% in Latvia

The latest data of the Central Statistical Bureau published October 9 show that in September 2023, compared to September 2022, the average level of consumer prices increased by 3.3 %.

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Compared to September 2022, in September 2023 the average level of consumer prices was mainly influenced by the rise in prices of food and non-alcoholic beverages (1.5 percentage points), alcoholic beverages and tobacco products (0.6 percentage points), health care (0.6 percentage points), goods and services related to recreation and culture (0.5 percentage points), miscellaneous goods and services group (0.4 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 August 2023, in September 2023 the average level of consumer prices decreased by 0.4 %. Drop in prices of goods and services related to housing (1.0 percentage point), food and non-alcoholic beverages (0.1 percentage point), as well as rise in prices of clothing and footwear (0.3 percentage points), goods and services related to transport (0.2 percentage points), miscellaneous goods and services group (0.1 percentage point) contributed the most to the price level changes.

Compared to 2015, in September 2023 consumer prices were 43.8 % higher. Prices of goods increased by 44.6 % and prices of services by 39.4 %.

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