Latvia: Consumer prices increase after two consecutive drops
December 8, 2015
In November, consumer prices were flat over the previous month, which came in below the 0.4% increase observed in the previous month. The statistical office reported that higher prices for food and non-alcoholic beverages offset lower prices for clothing and footwear as well as for transportation.
Consumer prices swung from a 0.2% annual decrease in October to a 0.1% increase in November. The reading was the first positive result after two consecutive months of falls. Throughout 2015, inflation was subdued. Annual average inflation was 0.2% in November, which matched October’s figure.
Harmonized consumer prices decreased 0.1% month-on-month in November which was down from the flat reading observed in October. Harmonized consumer prices were unchanged on an annual basis in November, which came in below the 0.1% decrease tallied in October. Annual average HICP inflation inched down from 0.3% in October to 0.2% in November.
Author: Ricardo Aceves, Senior Economist