Latvia Inflation Rate Eases in June

Figures

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Latvia's annual inflation rate eased for a fifth straight month to 7.9% in June 2023 from 12.1% in May, data from the Riga-based Central Statistical Bureau (CSB) showed on Tuesday.

Main downward pressures came from prices of housing & utilities (13.1% vs 24.8% in May) and restaurant & hotels (13.3% vs 17.4%) as well as ongoing cost reductions in transport (-12.4% vs -7.7%).

Inflation also decelerated for clothing & footwear (1.7% vs 2.9%) and furnishings (7.3% vs 9.3%). Additionally, food prices surged at the softest pace in 16 months (14.4% vs 17.9%).

On a monthly basis, consumer prices dropped by 1.4% in June, the steepest decline since comparable records began in 1995, after a prior 1.2% hike. 

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