In Latvia, annual inflation is the lowest since April 2018
In Latvia, annual inflation fell to 2.1% in November
2019, and was the lowest since April 2018. The average inflation this year (in
11 months) counted around 2.9%.
In November, the growth of commodity prices
continued to slow down (1.8%), while the increase of services’ prices remained
close to 3%.
Food prices still play an important role in
overall inflation. In November, compared to the previous year, certain food
prices continued to climb sharply, but, at the same time, in some categories prices
already experienced downward effect of the new harvest that entered the market.
Rising prices of housing related services contributed
to the inflation less than before, but still took the second place among
drivers of annual inflation.
The slowdown in commodity prices was largely
due to the fall in oil prices. Moreover, it is reflected into the prices of goods
and services related to transport that pulled down annual inflation.
According to Swedbank's forecasts, average
annual inflation will remain around 2.9% in 2019.
For more information please contact Ms. Laimdota Komare, +371 67444213, email@example.com
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