Latvia - Inflation, consumer prices (annual %) 1992 - 2022
Latvia's inflation, consumer prices (annual %) is currently 17.31%, according to the most recent World Bank data for the country (2022).
Definition
The consumer price index gauges inflation by indicating the yearly percentage shift in the expenses for an average consumer to procure a collection of goods and services, which could either remain constant or alter at specified periods like annually; typically employing the Laspeyres formula.- Latvia's inflation, consumer prices (annual %) for 2022 was 17.31%, a 428.42% increase from 2021, with a +14 difference.
- In 2021 it was 3.276%, a 1,395.37% increase from 2020, with a +3 difference.
- In 2020 it was 0.219%, a -92.21% increase from 2019.
- In 2019 it was 2.811%, a 10.93% increase from 2018.
- In 2018 it was 2.534%, a -13.51% increase from 2017.
Measure: Percent
Average, Lowest, and Highest Recorded Values
The average inflation, consumer prices (annual %), value for Latvia is currently 40.2811% (average of years with recorded data) with a lowest recorded value of -1.0846% in 2010 and a highest value of 951.6962% in 1992.
Latvia's Inflation, consumer prices (annual %) - Historical Data
| Year | Inflation, consumer prices (annual %) | Average Growth Rate (%) |
|---|---|---|
| 1992 | 951.696% | |
| 1993 | 108.99% | -88.55% |
| 1994 | 35.925% | -67.04% |
| 1995 | 24.976% | -30.48% |
| 1996 | 17.61% | -29.49% |
| 1997 | 8.447% | -52.03% |
| 1998 | 4.644% | -45.02% |
| 1999 | 2.365% | -49.08% |
| 2000 | 2.654% | 12.24% |
| 2001 | 2.487% | -6.30% |
| 2002 | 1.939% | -22.04% |
| 2003 | 2.943% | 51.77% |
| 2004 | 6.192% | 110.44% |
| 2005 | 6.748% | 8.98% |
| 2006 | 6.536% | -3.15% |
| 2007 | 10.093% | 54.42% |
| 2008 | 15.402% | 52.60% |
| 2009 | 3.534% | -77.05% |
| 2010 | -1.085% | -130.69% |
| 2011 | 4.371% | 502.97% |
| 2012 | 2.258% | -48.34% |
| 2013 | -0.029% | -101.30% |
| 2014 | 0.62% | 2,206.59% |
| 2015 | 0.174% | -71.92% |
| 2016 | 0.141% | -19.29% |
| 2017 | 2.93% | 1,983.69% |
| 2018 | 2.534% | -13.51% |
| 2019 | 2.811% | 10.93% |
| 2020 | 0.219% | -92.21% |
| 2021 | 3.276% | 1,395.37% |
| 2022 | 17.31% | 428.42% |
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Comparison with Countries in the Europe & Central Asia Region.
Among countries in the same World Bank Europe & Central Asia (ECA) region, Latvia comes in 6th with 17.31% inflation, consumer prices (annual %).
- Within the same region, Turkiye comes in 1st with 72.309%, inflation, consumer prices (annual %).
- Moldova comes in 2nd with 28.737%.
- Ukraine comes in 3rd with 20.184%.
- Lithuania comes in 4th with 19.705%.
- Estonia comes in 5th with 19.398%.
- Bulgaria comes in 7th with 15.325%.
- Belarus comes in 8th with 15.21%.
- Czechia comes in 9th with 15.1%.
- Hungary comes in 10th with 14.608%.
- Poland comes in 11th with 14.43%.
- North Macedonia comes in 12th with 14.205%.
- Bosnia and Herzegovina comes in 13th with 14.021%.
- Kyrgyz Republic comes in 14th with 13.923%.
- Azerbaijan comes in 15th with 13.852%.
- And Romania comes in 16th with 13.796%, inflation, consumer prices (annual %).
Inflation, consumer prices (annual %), Top 10 Countries in the Europe & Central Asia Region.
Top 10 Countries in the Europe & Central Asia Region.
| # | Country | Inflation, consumer prices (annual %) | Year |
|---|---|---|---|
| 1 | Turkiye | 72.31% | 2022 |
| 2 | Moldova | 28.74% | 2022 |
| 3 | Ukraine | 20.18% | 2022 |
| 4 | Lithuania | 19.70% | 2022 |
| 5 | Estonia | 19.40% | 2022 |
| 6 | Latvia | 17.31% | 2022 |
| 7 | Bulgaria | 15.33% | 2022 |
| 8 | Belarus | 15.21% | 2022 |
| 9 | Czechia | 15.10% | 2022 |
| 10 | Hungary | 14.61% | 2022 |
Comparison with Countries in the High income Group.
Among countries in the same World Bank High income (HI) group, Latvia comes in 3rd with 17.31% inflation, consumer prices (annual %).
- Within the same income group, Lithuania comes in 1st with 19.705%, inflation, consumer prices (annual %).
- Estonia comes in 2nd with 19.398%.
- Czechia comes in 4th with 15.1%.
- Hungary comes in 5th with 14.608%.
- Poland comes in 6th with 14.43%.
- Romania comes in 7th with 13.796%.
- Slovak Republic comes in 8th with 12.774%.
- Chile comes in 9th with 11.644%.
- Croatia comes in 10th with 10.781%.
- Netherlands comes in 11th with 10.001%.
- Greece comes in 12th with 9.645%.
- And Belgium comes in 13th with 9.598%, inflation, consumer prices (annual %).
Inflation, consumer prices (annual %), Top 14 Countries in the High income Group.
Top 14 Countries in the High income Group.
| # | Country | Inflation, consumer prices (annual %) | Year |
|---|---|---|---|
| 1 | Lithuania | 19.705% | 2022 |
| 2 | Estonia | 19.398% | 2022 |
| 3 | Latvia | 17.310% | 2022 |
| 4 | Czechia | 15.100% | 2022 |
| 5 | Hungary | 14.608% | 2022 |
| 6 | Poland | 14.430% | 2022 |
| 7 | Romania | 13.796% | 2022 |
| 8 | Slovak Republic | 12.774% | 2022 |
| 9 | Chile | 11.644% | 2022 |
| 10 | Croatia | 10.781% | 2022 |
| 11 | Netherlands | 10.001% | 2022 |
| 12 | Greece | 9.645% | 2022 |
| 13 | Belgium | 9.598% | 2022 |
| 14 | Uruguay | 9.104% | 2022 |