Latvia's inflation in June exceeds EU average

According to data published on Friday by Eurostat, the European Union's statistical office, Latvia's annual inflation in June stood at 3.3% – the same level as Belgium – and above the EU average of 2.9% and the eurozone average of 2.8%.

Consumer prices rose year-on-year in all EU member states. The lowest inflation rates were recorded in Sweden (1%), Czechia (1.1%), Denmark (1.8%), as well as in Malta, France and Estonia (all at 2%). The highest annual inflation was seen in Romania (9.2%), Lithuania (5.4%), Bulgaria (5.2%), Croatia (4.2%) and Cyprus (4.1%).

Compared to the previous month (May), consumer prices in both the EU and the eurozone fell by 0.1%. In Latvia, along with Italy and Hungary, prices remained unchanged. Monthly inflation was observed in 11 EU countries, with the highest increase in Malta (+1.1%), while the largest monthly deflation was recorded in the Netherlands (-0.9%). In Lithuania, prices rose by 0.5%, while in Estonia, similar to Finland, they decreased by 0.4%.

Eurostat calculates inflation based on the Harmonised Index of Consumer Prices (HICP), ensuring comparability across member states.