Latvia Inflation Rate Falls Further in February
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Annual inflation rate in Latvia eased to 0.4% in February, the lowest in almost 3 years, from 0.9% in the previous month, data from the Riga-based Central Statistical Bureau (CSB) on Friday show.
The drop is mainly due to a slowdown in price increase for food (1.5% vs 2.9%), alcohol & tobacco (5% vs 7.7%), clothing & footwear (1.3% vs 2.8%) and health (6.7% vs 6.8%).
Additionally, prices for housing fell at a faster pace (-8.1% vs -7.4%), while transportation fell at a slower pace (-0.3% vs -2.5%). On the other hand, prices for recreation & culture accelerated (2.7% vs 2.3%).
On a monthly basis, inflation increased slightly by 0.1% in February, following an increase of 0.8% in January.
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