Annual inflation accelerated to 6% in Latvia during October

The latest data of the Central Statistical Bureau (CSB) released November 8 show that in October 2021, compared to October 2020, the average level of consumer prices increased by 6.0 %.

It is the tenth month in a row that inflation has risen and in annual terms it is the fastest price increase since mid-2009.

"The greatest pressure on the average price level changes in October 2021 compared to October 2020 was put by the rise in prices of goods and services related to transport, goods and services related to housing, prices of food and non-alcoholic beverages, health care, alcoholic beverages and tobacco products as well as furnishings," the CSB said.

 

 

Compared to September 2021, in October 2021 the average level of consumer prices increased by 1.1 %. The greatest pressure on the price changes was due to the increase in prices of goods and services related to transport, goods and services related to housing, food and non-alcoholic beverages, furnishings, goods and services related to recreation and culture, as well as the drop in prices of clothing and footwear.

Compared to 2015, consumer prices in October 2021 were 15.2 % higher. Prices of goods rose by 13.8 %, while prices of services - by 17.9 %.

According to the International Monetary Fund, the sharp rise in world prices could continue until the middle of next year.

 

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