Latvia Inflation Rate Eases Further in October

Figures

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Annual inflation rate in Latvia further slowed to 2.1% in October, down from 3.3% in the previous month, data from the Riga-based Central Statistical Bureau (CSB) on Wednesday show.

This marked the lowest reading since April 2021, primarily attributed to ongoing cost reductions in housing & utilities (-6.6% vs -6.4% in September) and transportation (-3.3% vs -0.2%).

There were also softer rises in prices of furnishings (6.7% vs 7%), communication (4.5% vs 4.7%), recreation & culture (6.1% vs 7.5%) and restaurants & hotels (8.8% vs 9.3%).

Meanwhile, food inflation continued to ease, reaching a nearly two-year low of 4.3% (vs 5.7%). On a monthly basis, consumer prices indicated a 0.4% decline in October, unchanged from the previous month.

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