Financial News: Latvia Inflation Eases To 1-Year Low

Latvia Inflation Eases To 1-Year Low

(RTTNews) - Latvia's consumer price inflation eased for the third straight month in April to the lowest level in a year, though it remained strong overall, preliminary data from the statistical office showed on Thursday.

The consumer price index climbed 15.1 percent year-on-year in April, slower than the 17.3 percent increase in the prior month.

Further, this was the lowest inflation rate since April 2022, when prices had risen 13.0 percent.

The overall strong inflation was largely driven by a 35.8 percent jump in housing costs, led by increased prices for heat energy, solid fuels, natural gas, and electricity. Nonetheless, the rate of growth eased notably from 40.2 percent in March.

Food prices alone grew by 20.2 percent, while transport charges dropped 2.9 percent.

On a monthly basis, consumer prices moved up 0.3 percent in April versus a 0.7 percent gain in March.

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