Latvia's Economic Response to Covid-19
432
1
0
-1
-2
Due to economic challanges inflation has dropped bellow 1%
Inflation is mainly affected to the declining demand due to the measures introduced to curb the spread of Covid-19.
Jan-14
Mar-14
May-14
Inflation
(HICP, annual rate of change %,
for food and energy - contribution to changes, as percentage points)
Nov-15
Jan-16
Mar-16
May-16
Jul-16
Sep-16
Nov-16
Jan-17
Mar-17
Jul-17
May-17
Energy
Inflation
Source: Eurostat (01.03.2021.)
Sep-17
Nov-17
Jan-18
Mar-18
May-18
Jul-18
Sep-18
Nov-18
Jan-19
Inflation In Latvia
(HICP, %)
Mar-19
May-19
Jul-19
Sep-19
Nov-19
Jan-20
Mar-20
May-20
Jul-20
Sep-20
Nov-20
Jan-21
Harmonised Index of Consumer Prices
(December 2020, 12 months average %)
EU-27: 0,7%
0.1%
Food, alcohol, tobacco
Inflation excl. energy, food, alcohol, tobacco
Czech
Austria
France
Finland
Belgium
AA-/Aa3/AA- AA+/Aa1/AA+ AA/Aa2/AA AA+/Aa1/AA+ AA/Aa3/AA-
Source: Eurostat (18.02.2021.)
Latvia
A+/A3/A-
Estonia
AA-/A1/AA-
3.2
2.9
2.9 2.8 3.0
2.4
2.6
2.72.72.8
2.3
1.8
0.8
0.2
0.1
-0.2
-0.7
-0.6
2014
0.1
-0.5
2015
2016
2017
2018
2019
2020
■Total inflation
■Goods inflation
■Services inflation
Source: Eurostat (10.02.2021.)
12
1.3
Harmonised Index of Consumer Prices Projection
(2021-2022, %)
1.7%
EU:1,5 %
Czech
AA-/Aa3/AA-
Belgium
AA/Aa3/AA-
Austria
AA+/Aa1/AA+
Latvia
A+/A3/A-
Estonia
AA-/A1/AA-
France
AA/Aa2/AA
Finland
AA+/Aa1/AA+
Source: European Commission, Winter 2021 (18.02.2021.)View entire presentation