Inflation rates in Latvia
The inflation rate for consumer prices in Latvia moved over the past 29 years between -1.1% and 951.7%. For 2021, an inflation rate of 3.3% was calculated.During the observation period from 1992 to 2021, the average inflation rate was 42.5% per year. Overall, the price increase was 10,603.58%. An item that cost 100 euros in 1992 costs 10,703.58 euros at the beginning of 2022.
For February 2023, the year-over-year inflation rate was 20.3%.
This includes energy (+46.4%) and food (+25.3%).
› Inflation rates in global comparison
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Performance over the last 29 years compared with the USA
In only a few countries are negative inflation rates achieved. This means that the general price level is declining and consumer prices get cheaper. This is called deflation. In comparison to most other countries, the drastic price increases are no longer average. Usually this is a sign of political and economic turmoil.Performance based on 100% in 1991:
Inflation calculator for Latvia
Enter any amount, an initial year and an end year here. You will then be provided with the original amount after inflation. Example: 1,000 euros in 1992 corresponds to 107,035.77 euros at the beginning of 2022 due to inflation.Inflation rates for consumer goods in Latvia
Energy and food
Historical inflation rates in comparison
| Year | Latvia | Ø EU | Ø USA | Ø World |
|---|---|---|---|---|
| 2021 | 3.28 % | 2.55 % | 4.70 % | 3.50 % |
| 2020 | 0.22 % | 0.50 % | 1.23 % | 1.92 % |
| 2019 | 2.81 % | 1.63 % | 1.81 % | 2.19 % |
| 2018 | 2.53 % | 1.74 % | 2.44 % | 2.44 % |
| 2017 | 2.93 % | 1.43 % | 2.13 % | 2.19 % |
| 2016 | 0.14 % | 0.18 % | 1.26 % | 1.55 % |
| 2015 | 0.17 % | -0.06 % | 0.12 % | 1.43 % |
| 2014 | 0.62 % | 0.20 % | 1.62 % | 2.35 % |
| 2013 | -0.03 % | 1.22 % | 1.46 % | 2.62 % |
| 2012 | 2.26 % | 2.66 % | 2.07 % | 3.73 % |
| 2011 | 4.37 % | 3.29 % | 3.16 % | 4.82 % |
| 2010 | -1.08 % | 1.53 % | 1.64 % | 3.35 % |
| 2009 | 3.53 % | 0.84 % | -0.36 % | 2.94 % |
| 2008 | 15.40 % | 4.16 % | 3.84 % | 8.95 % |
| 2007 | 10.09 % | 2.51 % | 2.85 % | 4.82 % |
| 2006 | 6.54 % | 2.67 % | 3.23 % | 4.28 % |
| 2005 | 6.75 % | 2.49 % | 3.39 % | 4.11 % |
| 2004 | 6.19 % | 2.29 % | 2.68 % | 3.38 % |
| 2003 | 2.94 % | 2.09 % | 2.27 % | 3.03 % |
| 2002 | 1.94 % | 2.42 % | 1.59 % | 2.83 % |
| 2001 | 2.49 % | 3.37 % | 2.83 % | 3.84 % |
| 2000 | 2.65 % | 3.15 % | 3.38 % | 3.49 % |
| 1999 | 2.36 % | 2.16 % | 2.19 % | 3.08 % |
| 1998 | 4.64 % | 2.42 % | 1.55 % | 5.11 % |
| 1997 | 8.45 % | 3.11 % | 2.34 % | 5.57 % |
| 1996 | 17.61 % | 3.56 % | 2.93 % | 6.55 % |
| 1995 | 24.98 % | 4.43 % | 2.81 % | 9.15 % |
| 1994 | 35.92 % | 4.72 % | 2.61 % | 10.32 % |
| 1993 | 108.99 % | 4.85 % | 2.95 % | 7.51 % |
| 1992 | 951.70 % | 6.22 % | 3.03 % | 7.71 % |
Data basis: International Monetary Fund, World Bank and OECD Inflation CPI indicator (doi:10.1787/eee82e6e-en)
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Country comparison: Latvia / United States of America
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