Development of inflation rates in Latvia
The inflation rate for consumer prices in Latvia moved over the past 27 years between -1.1% and 951.7%. For 2019, an inflation rate of 2.8% was calculated.
During the observation period from 1992 to 2019, the average inflation rate was 45.5%
per year. Overall, the price increase was 10,241.41 %. An item that cost 100 Euro in 1992 was so charged 10,341.41 Euro in the beginning of 2020.
In only a few countries negative inflation rates are achieved. This means that the general price level is declining and consumer prices get cheaper. This case is called deflation.In comparison to other countries, the drastic price increases are no longer on average. Usually this is a sign of political and economic turmoil.Back to overview: Latvia