Latvia's Economic and Financial Outlook
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Inflation close to 3% is healthy, reflecting income convergence potential
Latvia has maintained moderate and predictable inflation for years. Core inflation is moderate and stable.
Jan-12
Mar-12
May-12
Jul-12
Sep-12
Nov-12
Jan-13
Mar-13
May-13
Jul-13
Sep-13
Nov-13
Jan-14
Inflation
(HICP, %)
Mar-14
May-14
Jul-14
Sep-14
Nov-14
Jan-15
Mar-15
May-15
Jul-15
Sep-15
Nov-15
Jan-16
Mar-16
May-16
Jul-16
Nov-16
Jan-17
Mar-17
May-17
Jul-17
Energy
Inflation
Source: Central Statistical Bureau of Latvia data, Bank of Latvia calculations
Inflation In Latvia
(HICP, %)
2.32.5
1.7
May-18
Jul-18
Sep-18
Nov-18
Jan-19
Mar-19
May-19
Harmonised Index of Consumer Prices
(May 2019, 12 months average %)
2.9%
EU-28: 1.9%
Food, alcohol, tobacco
Inflation excl. energy, food, alcohol, tobacco
Estonia
Latvia
Belgium
Czech
Austria
France
Finland
AA-/A1/AA- A/A3/A- AA/Aa3/AA- AA-/A1/AA- AA+/Aa1/AA+ AA/Aa2/AA AA+/Aa1/AA+
Source: Eurostat
3.2
2.9 2.9 3.0
2.8
2.4
2.6 2.3
1.8
0.4
0.6
0.0
0.2
0.1
-0.1
- 0.2
-0.7
- 0.6
2012
2013
2014
2015
2016
Total inflation
■Goods inflation
2017
Services inflation
2018
Source: Central Statistical Bureau of Latvia data
12
Harmonised Index of Consumer Prices Projection (2019-2020, %)
2.6%
Source: European Commission, Spring, 2019
EU-28: 1.7%
IT
Latvia
A/A3/A-
Estonia
AA-/A1/AA-
Czech
Austria Belgium Finland
France
AA-/A1/AA- AA+/Aa1/AA+ AA/Aa3/AA- AA+/Aa1/AA+ AA/Aa2/AAView entire presentation