Annual inflation in Latvia 2.8% in June

The latest data of the Central Statistical Bureau (CSB) show that in June 2018, compared to June 2017, the average level of consumer prices rose by 2.8 %. Prices of goods increased by 2.5 % and prices of services grew by 3.3 %.

Compared to May 2018, in June 2018 the average level of consumer prices rose by 0.6 %. Prices of goods increased by 0.4 % and prices of services grew by 1.1 %. Price changes were mainly impacted by an increase in the prices of goods and services related to transport, goods and services related to housing, alcoholic beverages and tobacco products, goods and services related to recreation and culture, as well as by a drop in the prices of clothing and footwear.

Compared to 2015, in June 2018 consumer prices had increased by 6.5 %. Prices of goods grew by 5.3 %, while prices of services rose by 9.5 %.

Latvia long term inflation trend

"The average annual inflation in the first half of the year has been 2.2%. Taking into account various factors that could contribute to rising annual inflation in the months to come, e.g. those linked with the oil price, average annual inflation could be between 2.5% and 3.0% this year," said Swedbank in response to the data.

Related articles
0 comments
Comment
Comment using your social media profile
Economy
Economy