Flash comment: Latvia CPI November 2019
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, laimdota.komare@swedbank.lv 


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