Analytics, Financial Services, Inflation, Latvia
International Internet Magazine. Baltic States news & analytics
Saturday, 21.09.2019, 20:41
Bank of Latvia's average inflation forecast for 2019 unchanged at 2.9%
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| Zoja Razmusa. BC. |
Even though the overall inflation pace decreased in January-June, robust
internal demand is beginning to have an increasingly bigger effect also on
inflation, said Razmusa. "We expect that core inflation, or inflation that
excludes food and energy prices, this year will be higher than in 2017. Core
inflation may also remain high in 2019 due to the increasing labor costs and
the indirect effect of higher oil prices."
At the same time, there is no reason to worry as the current inflation,
close to 3 percent, poses no threat to Latvia and rather demonstrates healthy
economic growth and convergence as the gap between the salaries in Latvia and
the wealthy Western European countries is growing smaller, added Razmusa.
As reported, consumer prices in Latvia in August decreased 0.1% from
July, while year-on-year inflation amounted to 2.8% in August.
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