Annual inflation at 15.1% in April in Latvia

The latest data published on May 11 by the Central Statistical Bureau show that in April 2023, compared to April 2022, the average level of consumer prices increased by 15.1%.

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Compared to April 2022, in April 2023 the average level of consumer prices was mainly influenced by the goods and services related to housing (5.8 percentage points), food and non-alcoholic beverages (5.3 percentage points), goods and services related to recreation and culture (0.8 percentage points), miscellaneous goods and services group (0.7 percentage points).

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Over the year, prices within the group of food and non-alcoholic beverages increased by 20.2 %. The average level of alcoholic beverage and tobacco product prices rose by 8.1 %. Average level of prices of goods and services related to housing rose by 35.8 %. The average level of health care prices grew by 10.0 %. Prices of goods and services related to recreation and culture rose by 12.8 %.

Among other commodity groups, the most notable rise was registered in prices of telecommunication services, household cleaning and maintenance products, garments, maintenance and repair of personal transport equipment, passenger transport by road. In turn, prices of fuel reduced by 10.8 %.

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Compared to 2015, in April 2023 consumer prices were 44.3 % higher. Prices of goods increased by 46.6 % and prices of services by 36.1 %.

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