Development of 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 Euro in 1992 was so charged 10,703.58 Euro in the beginning of 2022.
For May 2022, the year-on-year inflation rate was 16.9%.
This includes in particular energy (+55.2%) and food (+18.2%).
› Inflation rates in global comparison
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Performance over the last 29 years compared to the US
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.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 issued with the amount that arose from the original amount after inflation. Example: 1000 Euro in 1992 corresponds to an amount of 107,035.77 Euro at the beginning of 2022 due to inflation.Development of inflation rates for consumer goods in Latvia
Energy and food
Historical inflation rates in comparison
| Year | Latvia | Ø USA | Ø World |
|---|---|---|---|
| 2021 | 3.28 % | 4.70 % | 3.42 % |
| 2020 | 0.22 % | 1.23 % | 1.91 % |
| 2019 | 2.81 % | 1.81 % | 2.21 % |
| 2018 | 2.53 % | 2.44 % | 2.44 % |
| 2017 | 2.93 % | 2.13 % | 2.19 % |
| 2016 | 0.14 % | 1.26 % | 1.55 % |
| 2015 | 0.17 % | 0.12 % | 1.43 % |
| 2014 | 0.62 % | 1.62 % | 2.35 % |
| 2013 | -0.03 % | 1.46 % | 2.62 % |
| 2012 | 2.26 % | 2.07 % | 3.73 % |
| 2011 | 4.37 % | 3.16 % | 4.82 % |
| 2010 | -1.08 % | 1.64 % | 3.35 % |
| 2009 | 3.53 % | -0.36 % | 2.94 % |
| 2008 | 15.40 % | 3.84 % | 8.95 % |
| 2007 | 10.09 % | 2.85 % | 4.82 % |
| 2006 | 6.54 % | 3.23 % | 4.28 % |
| 2005 | 6.75 % | 3.39 % | 4.11 % |
| 2004 | 6.19 % | 2.68 % | 3.38 % |
| 2003 | 2.94 % | 2.27 % | 3.03 % |
| 2002 | 1.94 % | 1.59 % | 2.83 % |
| 2001 | 2.49 % | 2.83 % | 3.84 % |
| 2000 | 2.65 % | 3.38 % | 3.49 % |
| 1999 | 2.36 % | 2.19 % | 3.08 % |
| 1998 | 4.64 % | 1.55 % | 5.11 % |
| 1997 | 8.45 % | 2.34 % | 5.57 % |
| 1996 | 17.61 % | 2.93 % | 6.55 % |
| 1995 | 24.98 % | 2.81 % | 9.15 % |
| 1994 | 35.92 % | 2.61 % | 10.32 % |
| 1993 | 108.99 % | 2.95 % | 7.51 % |
| 1992 | 951.70 % | 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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