Latvian annual inflation 2.1% in November

Latest data published by the Central Statistical Bureau (CSB) on December 9 show that in November 2019, compared to November 2018, the average level of consumer prices rose by 2.1 %.

Prices of goods increased by 1.8 % and prices of services by 2.9 %.

Latvia inflation, November 2019

"Compared to November 2018, in November 2019 the greatest influence on the average level of consumer prices was exerted by the rise in prices of goods and services related to housing, food and non-alcoholic beverages, alcoholic beverages and tobacco products, goods and services related to recreation and culture, health care, restaurant and hotel services, as well as the decline in prices of goods and services related to transport," the CSB said.

Compared to October 2019, in November 2019 the average level of consumer prices dropped by 0.3 %. Prices of goods fell by 0.2 % and prices of services by 0.4 %.

Commenting on the data, Citadele bank economist Mārtiņš Āboliņš said that while the introduction of new excise rates at the start of 2020 might slightly affect inflationary trends, it is seen as being pretty steady and is likely to remain under 2.5% next year.

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Economy
Economy