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Nicolas de Chamfort
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Bank analysts predict inflation in Latvia 3.2-3.4% for April

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Compared to March, consumer prices in April had possibly grown by 0.6-0.8%, which means annual inflation in Latvia has reached approximately 3.2-3.4%, bank analysts predict.

Swedbank’s acting chief economist in Latvia Agnese Buceniece notes that in April, when compared to March, consumer prices increased 0.6%, whereas annual inflation was approximately 3.2% when compared to April 2018.

«The main factor that had affected growth in April was likely the seasonal price growth for clothes, shoes, and fuel. A slight increase was observed for food prices in April,» said Buceniece.

SEB Bank’s macroeconomic expert Dainis Gašpuitis predicts April’s consumer prices when compared to March may have increased 0.8% and annual inflation may have reached 3.4%.

«Considerable inflation growth may have had continued in April,» says Gašpuitis, adding that price rise had likely continued for food, clothes and footwear.

He also notes that inflation is stimulated by growing oil prices. «The most notable rise was observed for fuel. Heating energy did not change, but its increase is still ahead,» said Gašpuitis.

Central Statistical Bureau of Latvia will announce data on consumer price changes on Friday, 10 May.


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