While the rate remains extremely high, at least Latvia no longer has the EU's highest inflation rate – that title now goes to Hungary, which has reported 25.7% inflation for January 2023.
Compared to January 2022, in January 2023 the average level of consumer prices was mainly influenced by the goods and services related to housing (7.9 percentage points), food and non-alcoholic beverages (7.3 percentage points), goods and services related to transport (1.7 percentage points), miscellaneous goods and services group (0.9 percentage points), goods and services related to recreation and culture (0.8 percentage points).
🛒Goods and services in Latvia with the largest price changes in January 2023, compared to January 2022 📈 pic.twitter.com/UeLeQa5vIF
— Statistics Latvia (@CSB_Latvia) February 10, 2023
Compared to December 2022, in January 2023 the average level of consumer prices increased by 0.5 %. Food and non-alcoholic beverages (0.3 percentage points), miscellaneous goods and services group (0.1 percentage point), health care (0.1 percentage point), furnishings (0.1 percentage point), goods and services related to recreation and culture (0.1 percentage point), alcoholic beverages and tobacco products (0.1 percentage point), as well as clothing and footwear (-0.2 percentage points), goods and services related to housing (-0.1 percentage point) contributed the most to the price level changes.
Compared to 2015, in January 2023 consumer prices were 41.9 % higher. Prices of goods increased by 44.3 % and prices of services by 33.4 %.
