Latvia: Harmonized inflation hits highest level since October 2023 in June
Harmonized inflation rose to 1.5% in June, up from May’s flat reading. June’s result marked the highest inflation rate in over half a year. Looking at the details of the release, prices for food and recreation increased at a quicker rate in June, prices for hospitality rebounded, and housing and utilities prices fell at a weaker rate.
That said, annual average harmonized inflation fell to 2.1% in June (May: 2.6%). Meanwhile, consumer price inflation rose to 1.4% in June from May’s 0.1%.
Lastly, harmonized consumer prices recorded zero growth in June over the previous month, below the 0.39% rise logged in May. June’s result marked the weakest reading since December 2023.