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 Latvia - News

 Inflation 8.2% for May  08.06.2007 back
Latvian May CPI +0.6% On Month, +8.2% On Year

Latvia's consumer price index rose 0.6% on the month in May and 8.2% on the year, data from Statistics Latvia showed Friday.

In April the index rose 0.6% on the month and 6.1% on the year.

The statistics agency said hotel and public catering prices rose the most, up 15.9% on the year, while housing, water, electricity, gas and fuel prices increased 14.1%.

Food prices were up 10.7% while alcohol and tobacco prices rose 8.9% in May, compared with the corresponding period last year.

Communication prices, the only sub-sector to show a decline, fell 4.6% on the year.

Earlier in the year, the government unveiled a 10-point plan to curb inflation. The proposal includes measures to cool the housing market and reduce government spending.

The government expects inflation to fall to below 3% by 2010.
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