Latvia Inflation Climbs To 2-year High

(RTTNews) - Latvia's consumer price inflation increased in August to the highest level in two years, preliminary data from the statistical office showed on Monday.

The consumer price index rose 4.1 percent year-on-year in August, faster than the 3.8 percent increase in July.

Moreover, this was the highest inflation rate since August 2023, when prices increased 5.4 percent.

The average level of consumer prices was mainly influenced by the rise in prices of food and non-alcoholic beverages, mainly of coffee, poultry, chocolate, fresh fruit, eggs, butter, cheese and curd, the agency said.

Food prices alone grew 7.5 percent annually in August, and housing costs were 3.6 percent more expensive. Clothing and footwear prices were 1.6 percent more expensive.

On a monthly basis, consumer prices dropped 0.2 percent versus a 0.1 percent increase in July.