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Bank of Latvia says the inflation level next year will be relatively low

Ilmars Rimsevics/LETA.
 RIGA, Nov 13 - Bank of Latvia President Ilmars Rimsevics told members of the press today that the inflation level in Latvia next year will remain relatively low, as there is no external or internal pressure for the inflation level to rise.
In October, the annual inflation rate was 1.6 percent, which was the lowest level registered in Latvia since autumn of 2010.
''The reduction of the inflation level was a bit more than we expected, which pleases us,'' Rimsevics said.
He also added that Latvia's inflation level last month was the third lowest in the EU.
Rimsevics also said that Latvia's inflation level is currently in accordance with the Maastricht criteria, and he believes that it will remain this way.
As reported, compared to September 2012, the average consumer price level did not change in October 2012, according to the Central Statistical Bureau's data.
The average price of goods rose 0.2 percent, of services - decreased 0.6 percent.
Compared to October 2011, consumer prices increased 1.6 percent. The average price of goods increased 1.8 percent, of services – 1 percent.
The annual average rate of change in October 2012 was 2.7 percent.
leta.lv
13-11-2012
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