Latvian inflation hit another 10-year high in August

Analysis

Annual inflation in Latvia jumped to 10.1% in August, the highest figure in the last 10 years, the Latvian Statistics Bureau announced on Monday.

The figure is the highest seen in Latvia since the financial crisis at the beginning of 1997, Oskars Alksnis of the bureau’s consumer price department told Deutsche Presse-Agentur dpa. Annual inflation in July was at 9.5%. Inflation was mainly driven by price rises in tobacco, heat energy and services related to housing. There was a drop in prices for clothing, the bureau said in a press release. Services related to maintenance of housing and heat energy became more expensive.

The news comes five months after the government announced a broad- based plan to curb inflation by gently reining in its own spending and encouraging the public to save more and spend less, especially in the overheated property market. (m&c.com)

ADVERTISEMENT

Poland industrial production rises in May Figures

Poland industrial production rises in May

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Breast cancer screening at Dr. Rose Private Hospital Interview

Breast cancer screening at Dr. Rose Private Hospital

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.