Average inflation measured by CPI reached 2.75 % in 2019 in Latvia, according to the National Statistical Office. This is 7.56 % more than in the previous year.
Historically, average inflation measured by CPI in Latvia reached an all time high of 952 % in 1992 and an all time low of -1.22 % in 2010. When compared to Latvia's main peers, average inflation measured by CPI in Belarus amounted to 5.60 %, 2.27 % in Estonia, 2.24 % in Lithuania and 4.47 % in Russia in 2019.
Latvia has been ranked 76th within the group of 175 countries we follow in terms of average inflation measured by CPI, 13 places above the position seen 10 years ago.
Inflation as measured by the consumer price index (CPI) reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly.