Latvian annual inflation in August at 3.2%

Consumer prices increased 0.2 percent in August 2019 as compared to July, while inflation amounted to 3.2 percent on year, according to the Central Statistical Bureau's data released September 9.

Compared to July, the average price level in August 2019 increased by 0.2 percent. Prices of goods increased 0.1 percent and prices of services 0.4 percent.

Higher prices of goods and services related to housing, clothing and footwear, goods and services related to recreation and culture, as well as decline in prices of food and non-alcoholic beverages exerted the greatest influence on the price changes, the CSB said. 

Compared to August 2018, in August 2019 the average level of consumer prices was mainly influenced by the rise in prices of food and non-alcoholic beverages, goods and services related to housing, alcoholic beverages and tobacco products, goods and services related to recreation and culture, restaurant and hotel services, as well as clothing and footwear.

Latvia inflation August 2019

Commenting on the data, Swedbank said: "In the coming months, the annual rate is likely to slow down, with annual inflation remaining close to 3%."

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