Inflation in Latvia Accelerates in September
Photo by Oleksiichik / Shutterstock.com
Latvia's consumer prices surged 22.2% year-on-year in September, following a 21.5% stable rate of increase in August, preliminary data from the Riga-based Central Statistical Bureau (CSB) showed on Monday.
The upward trend in inflation was largely driven by a 51.6% surge in housing costs, led by increased prices for electricity, heat energy, solid fuels, and natural gas.
Transport charges also registered a sharp annual growth of 21.9% amid soaring fuel prices.
Prices for food and non-alcoholic beverages grew 27.5% and those for restaurants and hotels rose 17.5%.
On a monthly basis, consumer prices moved up 1.6% in September, after a 0.4% gain in August.
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.