Latvia: Harmonized inflation surges in December
Latest reading: Harmonized inflation rose to 3.4% in December, following November’s 2.3%. December’s figure marked the highest inflation rate since September 2023. The pick-up was broad-based, with greater price pressures recorded for food, recreation and hospitality. In addition, transportation costs rebounded, and housing and utilities prices fell at a softer pace.
The trend pointed up mildly, with annual average harmonized inflation coming in at 1.3% in December (November: 1.1%). Meanwhile, consumer price inflation rose to 3.2% in December from the previous month’s 2.2%.
Finally, harmonized consumer prices rose 0.31% from the previous month in December, accelerating from November’s 0.11% increase. December’s figure was the highest reading since May.