Latvian inflation starts the year on 3%

The latest data released by the Central Statistical Bureau (CSB) February 11 show that in January 2019, compared to January 2018, the average level of consumer prices in Latvia rose by 3.0 %.

Prices of goods increased by 3.0 % and prices of services by 3.2 %

The comparable figure for annual inflation in December 2018 was 2.6 %, after it fell from 3 % in November.

"Compared to January 2018, in January 2019 the average level of consumer prices was mainly influenced by the rise in prices of goods and services related to housing, alcoholic beverages and tobacco products, food and non-alcoholic beverages, restaurant and hotel services, prices in recreation and culture group, as well as health care prices," the CSB said.

Latvia long term inflation trend, Jan 2019

Compared to December 2018, in January 2019 the average consumer price level rose by 0.5 %. Prices of goods increased by 0.5 % and prices of services by 0.3 %. The greatest pressure on the consumer price changes was exerted by the rise in prices of goods and services related to housing, alcoholic beverages and tobacco products, food and non-alcoholic beverages, prices in miscellaneous goods and services group, as well as drop in prices of clothing and footwear, as well as goods and services related to transport. 

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Economy
Economy