Latvia: Harmonized inflation ticks up in January
Harmonized inflation came in at 1.1% in January, which was up from December’s 0.9%. The increase was largely due to rising price growth for food and non-alcoholic beverages. In addition, price pressures for housing and utilities dropped at a less pronounced pace.
Annual average harmonized inflation fell to 7.5% in January (December: 9.1%). Meanwhile, consumer price inflation rose to 1.0% in January, from the previous month’s 0.6%.
Lastly, harmonized consumer prices rose 0.78% from the previous month in January, contrasting December’s 0.73% drop. January’s result was the highest reading since May 2023.