Latvia Inflation Accelerates In September


By RTTNews Staff Writer   ✉   | Published:

Latvia’s consumer price inflation accelerated to a new record high in September, as the majority of commodity groups indicated rising prices, preliminary data from the statistical office showed on Monday.

Consumer prices surged 22.2 percent year-on-year in September, following a 21.5 percent stable rate of increase in August.

The upward trend in inflation was largely driven by a 51.6 percent surge in housing costs, led by increased prices for electricity, heat energy, solid fuels and natural gas.

Transport charges also registered a sharp annual growth of 21.9 percent amid soaring fuel prices.

Prices for food and non-alcoholic beverages grew 27.5 percent and those for restaurants and hotels rose 17.5 percent.

On a monthly basis, consumer prices moved up 1.6 percent in September, after a 0.4 percent gain in August.

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