Annual inflation down to 7.9% in Latvia

The latest data published on July 11 by the Central Statistical Bureau show that in June 2023, compared to June 2022, the average level of consumer prices increased by 7.9%.

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Compared to June 2022, in June 2023 the average level of consumer prices was mainly influenced by the rise in prices of food and non-alcoholic beverages (3.7 percentage points), goods and services related to housing (2.4 percentage points), goods and services related to recreation and culture (0.6 percentage points), alcoholic beverages and tobacco products (0.6 percentage points), health care (0.6 percentage points), miscellaneous goods and services group (0.6 percentage points), as well as drop in prices of goods and services related to transport (1.9 percentage points).

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Compared to May 2023, in June 2023 the average level of consumer prices decreased by 1.4 %. Downturn in prices of goods and services related to housing (1.1 percentage point), clothing and footwear (0.2 percentage points), goods and services related to transport (0.1 percentage point), miscellaneous goods and services group (0.1 percentage point), as well as upturn in prices of health care (0.1 percentage point) contributed the most to the price level changes.

Compared to 2015, in June 2023 consumer prices were 44.1 % higher. Prices of goods increased by 45.5 % and prices of services by 38.2 %.

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