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Financial News: Latvia Inflation Eases Slightly In October

Latvia Inflation Eases Slightly In October

11/08/2022 - 09:28:00 (RTTNews)

(RTTNews) - Latvia's consumer price inflation eased slightly in October after reaching a new record high in September, preliminary data from the statistical office showed on Tuesday.

Consumer prices surged 21.8 percent year-on-year in October, following a 22.5 percent increase in the prior month.

The overall strong inflation was largely driven by a 46.9 percent jump in housing costs, led by increased prices for heat energy, solid fuels, natural gas and electricity.

Prices for food and non-alcoholic beverages alone grew 29.5 percent, and transport charges were 20.1 percent more expensive compared to last year, linked to higher fuel prices.

On a monthly basis, consumer prices moved up 0.8 percent at the start of the fourth quarter.

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