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Analysts: inflation rate in Latvia in 2018 will be between 2.7% to 3.5%

BC, Riga, 11.01.2018.Print version
The inflation rate in Latvia in 2018 will be between 2.7% to 3.5%, according to bank analysts.

Swedbank economic experts Linda Vildava told LETA that after four years of relatively low inflation, 2017 saw a more rapid increase in inflation.


She pointed out that consumer prices this year are expected to rise even more than last year, and that Swedbank projects the annual inflation rate at around 3.5% this year.


Vildava said that the increase in inflation this year will be due to economic growth, a rise in the minimum wage, a rise in the price of fuel, as well as a rise in excise duty.


Meanwhile, SEB Banka macro-economics expert Dainis Gaspuitis told LETA that the inflation rate this year will likely be close to last year's level - 2.9%.


''External factors in 2018 will likely have less impact than internal ones,'' he said, adding that there will most likely be a more moderate increase in the price of food this year when compared to last year.


As reported, the annual inflation rate in Latvia was at 2.9% last year, according to the Central Statistical Bureau.


At the same time, in December 2017, compared to December 2016, the average level of consumer prices rose by 2.2%.

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