Latest reading: Inflation edged down to 1.9% in June, which followed May’s 2.1%. June’s reading represented the weakest inflation rate...
Inflation in Latvia
Harmonized consumer price inflation averaged 3.7% in the ten years to 2024. The 2024 average figure was 1.3%. For more inflation information, visit our dedicated page.
Latvia Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Latvia from 2015 to 2023.
Source: Macrobond.
Latvia Inflation Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | 2.7 | 0.1 | 3.2 | 17.2 | 9.1 |
| Inflation (CPI, ann. var. %, eop) | 2.3 | -0.5 | 7.8 | 20.9 | 0.6 |
| Inflation (HICP, ann. var. %, eop) | 2.1 | -0.5 | 7.9 | 20.7 | 0.9 |
| Inflation (PPI, ann. var. %, aop) | 1.9 | -1.9 | 13.1 | 30.7 | 1.1 |
Harmonized inflation increases in June
Latest reading: Harmonized inflation came in at 3.9% in June, which was up from May’s 3.7%. The uptick stemmed from stronger price pressures for housing and utilities plus a softer fall in transport costs. Annual average harmonized inflation rose to 2.7% in June (May: 2.5%). Meanwhile, consumer price inflation ticked up to 3.8% in June from the previous month's 3.6%. Finally, harmonized consumer prices increased 0.22% in June over the previous month, after the 0.05% increase seen in May.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Latvian inflation projections for the next ten years from a panel of 13 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Latvian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Latvian inflation projections.
Want to get access to the full dataset of Latvian inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Hong Kong: Inflation declines to lowest level since March in June Latest reading: Inflation came in at 1.5% in June, which was down from May’s 1.9%. June’s figure represented the weakest... -
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