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Financial News: Latvia Inflation Highest Since May 2012

Latvia Inflation Highest Since May 2012

01/11/2017 - 06:59:00 (RTTNews)

(RTTNews) - Latvia's consumer price inflation accelerated in December to the highest level in more than four-and-a-half years, figures from the Central Statistics Bureau showed Wednesday.

The consumer price index rose 2.2 percent year-over-year in December, faster than the 1.3 percent climb in November. It was the fourth successive monthly increase.

Moreover, the latest inflation was the strongest since May 2012, when prices had grown the same 2.2 percent.

As compared to last year, prices of goods were 1.7 percent more expensive in December and costs of services by 3.4 percent.

Food prices climbed 4.8 percent annually in December and transport charges went up by 3.0 percent.

On a monthly basis, consumer prices increased 0.6 percent from November, when it edged up by 0.2 percent.

In 2016, the average annual rate of change in the CPI was 0.1 percent as compared to 2015.

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