Consumer prices in Latvia eased to 20.8 percent in December 2022, from a 21.8 percent rise in the previous month. It was the lowest inflation rate since June amid a slowdown in prices of housing & utilities (42.8% vs 44.4% in November), transport (12.6 percent vs 18.2 percent), clothing & footwear (5.3 percent vs 6.2 percent), alcoholic beverages & tobacco products (6 percent vs 6.2 percent) and food & non-alcoholic beverages (29 percent vs 29.5 percent). On the other hand, inflation accelerated for recreation & culture (9.4 percent vs 8.8 percent), communication (6.7 percent vs 4.9 percent) and health (9.7 percent vs 9.1 percent). On a monthly basis, consumer prices fell by 0.5 percent in December, following a 1.1 percent surge in November. source: Central Statistical Bureau of Latvia

Inflation Rate in Latvia averaged 4.00 percent from 1998 until 2022, reaching an all time high of 22.20 percent in September of 2022 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 February of 2023.

Inflation Rate in Latvia is expected to be 16.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Latvia Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-12-08 11:00 AM Nov 21.8% 21.8% 21.8%
2023-01-11 11:00 AM Dec 20.8% 21.8% 20.4%
2023-02-10 11:00 AM Jan 20.8% 21.7%


Related Last Previous Unit Reference
Inflation Rate 20.80 21.80 percent Dec 2022
Inflation Rate MoM -0.50 1.10 percent Dec 2022
Consumer Price Index CPI 141.20 141.80 points Dec 2022
GDP Deflator 1.40 1.32 percent Sep 2022
Producer Prices 169.50 168.90 points Dec 2022
Producer Prices Change 28.80 29.60 percent Dec 2022
Export Prices 144.20 146.00 points Nov 2022
Import Prices 129.10 130.00 points Nov 2022
CPI Transportation 131.70 139.70 points Dec 2022
CPI Housing Utilities 172.70 171.80 points Dec 2022
Food Inflation 29.00 29.50 percent Dec 2022

Latvia Inflation Rate
In Latvia, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (26 percent of total weight). Housing and Utilities accounts for 17 percent; Transport for 14 percent; Alcoholic beverages and Tobacco for 8 percent; Recreation and Culture for 7 percent; Health for 6 percent; and Clothing and Footwear for 5 percent. Miscellaneous Goods and Services; Furniture, Household Equipment and Maintenance; Restaurants and Hotels; Communication; and Education account for the remaining 17 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
20.80 21.80 22.20 -4.30 1998 - 2022 percent Monthly
2015=100

News Stream
Latvia Inflation Rate at 6-Month Low
Consumer prices in Latvia eased to 20.8 percent in December 2022, from a 21.8 percent rise in the previous month. It was the lowest inflation rate since June amid a slowdown in prices of housing & utilities (42.8 percent vs 44.4 percent in November), transport (12.6 percent vs 18.2 percent), clothing & footwear (5.3 percent vs 6.2 percent), alcoholic beverages & tobacco products (6 percent vs 6.2 percent) and food & non-alcoholic beverages (29 percent vs 29.5 percent). On the other hand, inflation accelerated for recreation & culture (9.4 percent vs 8.8 percent), communication (6.7 percent vs 4.9 percent) and health (9.7 percent vs 9.1 percent). On a monthly basis, consumer prices fell by 0.5 percent in December, following a 1.1 percent surge in November.
2023-01-11
Latvia Inflation Rate Steady at 21.8%
Annual inflation rate in Latvia was steady at 21.8% in November of 2022, holding close to a record high rate of 22.2% hit in September. Biggest upward contribution came from cost of housing (44.4%), mainly heat energy, solid fuels, natural gas and electricity; food and non-alcoholic beverages (29.5%), namely bread, bakery products, flours and other cereals, pasta products, rice and breakfast cereals; transport (18.2%), specially fuels for transport; miscellaneous goods and services (18%), like articles for personal hygiene and beauty products; and restaurant and hotel services (19.2%). Compared to the previous month, the CPI rose 1.1%, following a 0.8% increase in October.
2022-12-08
Latvia Inflation Rate Eases from Record High
Latvia's consumer price inflation rate eased to 21.8 percent year-on-year in October 2022 from the previous month's all-time high of 22.2 percent, as prices rose at softer rates for housing and utilities (46.9 percent vs 51.6 percent in September), transport (20.1 percent vs 21.9 percent), and alcoholic beverages and tobacco products (5.6 percent vs 5.9 percent). Meanwhile, inflation accelerated for food and non-alcoholic beverages (29.5 percent vs 27.5 percent), recreation and culture (8.0 percent vs 7.8 percent), and clothing and footwear (4.6 percent vs 2.7 percent); while it remained unchanged for miscellaneous goods and services (at 15.3 percent). On a monthly basis, consumer prices advanced 0.8 percent in October, easing from a 1.6 percent increase in September.
2022-11-08