Inflation level at 21.5% in August in Latvia

The latest data published on September 8 by the Central Statistical Bureau show that in August 2022, compared to August 2021, the average level of consumer prices increased by 21.5 %.

Compared to August 2021, in August 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, alcoholic beverages and tobacco products, goods and services related to recreation and culture, health care.

Over the year, prices within the group of food and non-alcoholic beverages increased by 25.7 %. Average level of prices of goods and services related to housing rose by 52.4 %. 

Compared to July 2022, in August 2022 the average level of consumer prices increased by 0.4 %. The greatest pressure on the price changes was put by the rise in prices of goods and services related to housing, food and non-alcoholic beverages, health care, goods and services related to recreation and culture, alcoholic beverages and tobacco products, restaurant and hotel services, as well as by the fall in prices of goods and services related to transport.

Compared to 2015, in August 2022 consumer prices were 37.0 % higher. Prices of goods increased by 39.5 % and prices of services by 28.1 %.

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