Annual inflation in Latvia down to 0.1%

The latest data published on June 10 by the Central Statistical Bureau show that in May 2024, compared to May 2023, the average level of consumer prices increased by 0.1 %.

Compared to May 2023, in May 2024 the average level of consumer prices was mainly influenced by the rise in prices of goods and services related to transport (0.7 percentage points), alcoholic beverages and tobacco products (0.5 percentage points), health care (0.4 percentage points), as well as drop in prices of goods and services related to housing (2.5 percentage points).

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Compared to April 2024, in May 2024 the average level of consumer prices increased by 0.3 %. Rise in prices within miscellaneous goods and services group (0.2 percentage points), alcoholic beverages and tobacco products (0.1 percentage point), furnishings (0.1 percentage point), restaurant and hotel services (0.1 percentage point), as well as drop in prices of goods and services related to housing (0.2 percentage points) had the most significant impact on the monthly price changes.

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Compared to 2015, in May 2024 consumer prices were 46.2 % higher. Prices of goods increased by 46.1 % and prices of services by 44.6 %.

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