Latvia's annual inflation climbs back above 3% in August
After slowing in July, Latvia's annual inflation accelerated again in August to 3.2%, according to the Central Statistical Bureau, driven mainly by higher transport and housing costs linked to energy prices.
Latvia's Central Statistical Bureau (CSB) has reported that the average consumer price level rose 3.2% year-on-year in August, marking a return to faster price growth after a slowdown recorded in July, when annual inflation had eased to 2.6%.
Main drivers of the increase
According to the CSB, two categories contributed most to August's inflation uptick. The first was transport-related goods and services, where fuel price changes played the leading role. The second was housing-related costs, where the increase was again driven mainly by energy prices.
Food prices eased the pressure
Food prices moved in the opposite direction, acting as a brake on overall inflation. This category helped limit an even sharper rise in the average price level, offsetting part of the upward pressure coming from transport and housing costs.
Overall, the August figures show that after the slowdown observed earlier in the summer, the pace of price growth in Latvia has picked up again, driven primarily by energy-related costs within the transport and housing sectors.
