Latvia ends 2022 with 17.3 pct annual inflation-Xinhua

Latvia ends 2022 with 17.3 pct annual inflation

Source: Xinhua| 2023-01-12 00:01:15|Editor: huaxia

RIGA, Jan. 11 (Xinhua) -- The Central Statistical Bureau of Latvia on Wednesday posted an average annual inflation of 17.3 percent for the country in 2022.

The figure is in line with the forecast released by the country's central bank in mid-December last year.

The Bank of Latvia said at the time that inflation will start dropping as energy prices begin to normalize. However, further price hikes might still be fueled by a global rise in food prices and wage growth, the bank warned.

In December 2022, Latvia posted a 20.8 percent annual inflation rate, although consumer prices dropped 0.5 percent after November.

The statistical bureau said that prices started to decline in November thanks to the less expensive transport-related goods and services, clothing and footwear, as well as miscellaneous goods and services.