Inflation up to 1% in October

Latvian inflation climbed in October to reach 1% year-on-year, according to data released by the Central Statistics Bureau (CSB).

"During the year (in October 2016, compared to October 2015) the average level of consumer prices increased by 1.0%. Prices of goods increased by 0.3 %, while prices of services grew by 2.9%," the CSB said.

Compared to October 2015, in October 2016 the greatest pressure on the price changes was put by the rise in prices of food and non-alcoholic beverages, alcoholic beverages and tobacco products, health care, recreation and culture goods and services, restaurant and hotel services, as well as by the drop in prices of goods and services related to housing.

Compared to September 2016, in October 2016 the average level of prices grew by 0.8%. Prices of goods increased by 1.2%, while prices of services declined by 0.3%.

As clothing of the winter season kept entering the market, prices of garments grew by 7.3% and prices of footwear by 0.8%.

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Economy
Economy