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Latvian annual inflation climbed to 2.6 % in May

Fresh data published June 8 by the Central Statistical Bureau (CSB) show that in May 2021, compared to May 2020, the average level of consumer prices in Latvia increased by 2.6 %, up fairly substantially on April's equivalent figure of 1.7 %.

Compared to May 2020, in May 2021 the average level of consumer prices was mainly influenced by the rise in prices of goods and services related to transport, food and non-alcoholic beverages, goods and services related to recreation and culture, health care, alcoholic beverages and tobacco products, clothing and footwear, the CSB said.

 

Compared to April 2021, in May 2021 the average level of consumer prices increased by 0.5 %. The greatest pressure on the price changes was put by the rise in prices of food and non-alcoholic beverages, goods and services related to transport, alcoholic beverages and tobacco products, restaurant and hotel services, furnishings, as well as by the fall in prices of goods and services related to recreation and culture.

Compared to 2015, in May 2021 consumer prices were 11.5 % higher. Prices of goods increased by 9.8 % and prices of services by 15.6 %.

 

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