Latvia's consumer prices rose 0.5 percent over a year earlier in July 2020, rebounding from a 0.7 percent drop in the previous month. It was the highest inflation rate in four months, boosted by higher cost of food & non-alcoholic beverages (2.8 percent vs 1.0 percent in June) namely fresh fruit (+19.6 percent) and dried, salted or smoked meat (of +8.3 percent). Also, prices of clothing & footwear rebounded (2.2 percent vs -2.7 percent) and cost of alcohol & tobacco increased (0.6 percent vs a flat reading). Additionally, prices fell less for transport (-3.9 percent vs -6.2 percent) and housing (-1.9 percent vs -2.3 percent) while inflation was steady for recreation & culture (at 1.8 percent). On a monthly basis, consumer prices went up 0.2 percent, the same as in the prior month.
Inflation Rate in Latvia averaged 3.54 percent from 1998 until 2020, reaching an all time high of 17.70 percent in May of 2008 and a record low of -4.30 percent in February of 2010. This page provides - Latvia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Central Statistical Bureau of Latvia
Inflation Rate in Latvia is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Latvia to stand at 1.50 in 12 months time. In the long-term, the Latvia Inflation Rate is projected to trend around 2.00 percent in 2021 and 2.20 percent in 2022, according to our econometric models.