Latvia Inflation Rises To 19-Month High

(RTTNews) - Latvia's consumer price inflation accelerated in April to the highest level in just over one-and-a-half years, preliminary data from the statistical office showed on Monday.

The consumer price index rose 3.9 percent year-on-year in April, faster than the 3.3 percent increase in March.

Further, this was the highest inflation rate since August 2023, when prices had risen 5.4 percent.

The annual price growth in food and non-alcoholic beverages accelerated to 7.3 percent from 6.4 percent. Clothing and footwear prices rose at a faster pace of 1.4 percent annually after a 0.2 percent rise a month ago. Meanwhile, utility prices climbed at a steady rate of 1.2 percent.

On a monthly basis, consumer prices increased 1.1 percent in March versus a 0.9 percent gain in March.

Separate official data showed that the total trade deficit of the country widened to EUR 272.7 million in March from EUR 251.9 million in the corresponding month last year. Both exports and imports grew by 8.1 percent annually.