Portrait of an Ascending Sovereign Credit
Inflation increase - Covid-19 post-restriction effect
As the pandemic recedes and the economy recovers, consumer prices are stabilizing. The price level increases, primarily
driven by rising world energy and food prices.
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Inflation
(HICP, annual rate of change %,
for food and energy - contribution to changes, as percentage points)
Jan-14
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
Energy
Inflation
Source: Eurostat (16.11.2021.)
Jul-16
Sep-16
Nov-16
Jan-17
Mar-17
May-17
Jul-17
Sep-17
Nov-17
Jan-18
Mar-18
May-18
Jul-18
Sep-18
Nov-18
Jan-19
Mar-19
May-19
Jul-19
Sep-19
Nov-19
Jan-20
Mar-20
May-20
Jul-20
Sep-20
Nov-20
Jan-21
Mar-21
May-21
Jul-21
Sep-21
Food, alcohol,
tobacco
Inflation excl. energy, food, alcohol, tobacco
Inflation in Latvia
(HICP, %)
3.2
2.9 2.8 3.0
2.9
2.4
2.62.3
2.7 2.7 2.8
1.8
1.3
0.8
0.2
0.1
-0.2
-0.7
-0.6
2014
2015
2016
2017
2018
Total inflation
■Goods inflation
Source: Eurostat (10.02.2021.)
11
2019
■Services inflation
0.1
-0.5
2020
Harmonised Index of Consumer Prices
(September 2021, 12 months average %)
EU-27: 1.7%
1.3%
Czech
Austria
Estonia
Belgium
Finland
France
AA-/Aa3/AA- AA+/Aa1/AA+ AA-/A1/AA- AA/Aa3/AA- AA+/Aa1/AA+ AA/Aa2/AA
Source: Eurostat (20.10.2021.)
Latvia
A+/A3/A-
Harmonised Index of Consumer Prices Projection
3.35%
Estonia
AA-/A1/AA-
Czech
AA-/Aa3/AA-
Latvia
A+/A3/A-
(2021-2022, %)
Source: European Commission, Autumn 2021 (16.11.2021.)
EU:2.55 %
Austria
AA+/Aa1/AA+
Belgium
AA/Aa3/AA-
France
AA/Aa2/AA
Finland
AA+/Aa1/AA+View entire presentation