Latest reading: Consumer prices rose 8.8% on a year-on-year basis in August, following a 9.3% rise in the previous month....
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 2014 to 2025.
Source: Macrobond.
Latvia Inflation Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | 3.2 | 17.2 | 9.1 | 1.3 | 3.8 |
| Inflation (CPI, ann. var. %, eop) | 7.8 | 20.9 | 0.6 | 3.2 | 3.5 |
| Inflation (HICP, ann. var. %, eop) | 7.9 | 20.7 | 0.9 | 3.4 | 3.4 |
| Inflation (PPI, ann. var. %, aop) | 13.1 | 30.7 | 1.1 | -3.8 | 0.9 |
Inflation decelerates in July from the prior month
Latest reading: Harmonized consumer prices were up 2.5% on a year-on-year basis in July, following a 3.3% rise in the previous month. Relative to the prior month's data, there were milder price pressures for food and non-alcoholic beverages (-3.1% in annual terms vs -0.9% in June), transportation (+5.0% vs +7.2% in June), housing and utilities (+6.8% vs +7.2% in June), recreation (+4.5% vs +4.6% in June) and restaurants and hotels (+4.0% vs +5.0% in June). Meanwhile, consumer prices were up 2.6% in annual terms in July, following a 3.4% increase in the previous month. Finally, harmonized consumer prices were down 0.72% in July on a month-on-month basis, following a 0.04% rise in the previous month.
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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