Annual inflation hits record 22% in September in Latvia

Take note – story published 1 year and 8 months ago

The latest data published October 10 by the Central Statistical Bureau show that in September 2022, compared to September 2021, the average level of consumer prices increased by 22.2%.

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Compared to September 2021, in September 2022 the average level of consumer prices was mainly influenced by the rise in prices of goods and services related to housing, food, and non-alcoholic beverages, goods and services related to transport, within the miscellaneous goods and services group, restaurant and hotel services, goods and services related to recreation and culture, health care, alcoholic beverages, and tobacco products, furnishings.

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Compared to August 2022, in September 2022 the average level of consumer prices increased by 1.6 %.

The greatest pressure on the price level changes was put by the rise in prices of goods and services related to housing, food and non-alcoholic beverages, clothing and footwear, within the miscellaneous goods and services group, education, furnishings, goods and services related to recreation and culture, as well as drop in prices of goods and services related to transport.

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Compared to 2015, in September 2022 consumer prices were 39.1 % higher. Prices of goods increased by 42.1 % and prices of services by 29.1 %.

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