Consumer prices in Latvia jumped 3.3 percent year-on-year in February of 2017 from 2.9 percent rise in the previous period. It was the highest inflation rate recorded since March of 2012, mainly driven by transport (6.7 percent from 5.6 percent in January), food and non-alcoholic beverages (6.1 percent from 6.2 percent) and communication (6.3 percent from 5.6 percent). In addition, prices recovered for housing and utilities (+1.7 percent from -0.1 percent) and rose faster for furnishings (1 percent from 0.3 percent) and education (2.4 percent from 2 percent). On a monthly basis, prices increased 0.4 percent compared with 0.1 percent in the previous month. Inflation Rate in Latvia averaged 3.74 percent from 1998 until 2017, reaching an all time high of 17.70 percent in May of 2008 and a record low of -4.30 percent in February of 2010.
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In Latvia, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (23.7 percent of total weight). Housing and Utilities accounts for 16.2 percent; Transport for 13.6 percent; Alcoholic beverages and Tobacco for 8.2 percent; Recreation and Culture for 8 percent and Clothing and Footwear for 5.8 percent. Health; Miscellaneous Goods and Services; Furniture, Household Goods and Maintenance; Restaurants and Hotels; Communication and Education account for the remaining 24.5 percent of total weight. This page provides – Latvia Inflation Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news. Latvia Inflation Rate – actual data, historical chart and calendar of releases – was last updated on March of 2017.