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Financial News: Latvia Inflation Highest Since October 2008

Latvia Inflation Highest Since October 2008

05/10/2022 - 09:15:00 (RTTNews)

(RTTNews) - Latvia's consumer price inflation accelerated further in April to reach its highest level in almost thirteen-and-a-half years, as majority of commodity groups indicated rising prices, preliminary data from the statistical office showed on Tuesday.

The consumer price index climbed 13.0 percent year-on-year in April, following an 11.5 percent rise in March.

The index has been rising since March 2021 and the latest rate of increase was the fastest since October 2008, when prices had grown 13.8 percent.

Prices for food and non-alcoholic beverages surged 17.4 percent annually in April. Prices of goods and services related to transport grew surged 24.7 percent due to higher fuel costs.

On a monthly basis, consumer prices increased at a faster rate of 2.2 percent in April, after 0.9 percent rise in March.

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