Annual inflation in Latvia in December was higher than the average in the European Union (EU) and the euro area, according to data published on Monday by the EU’s statistical office Eurostat.
Annual inflation in Latvia stood at 3.4% in December.
Consumer prices increased year-on-year in December in all EU member states.
The lowest inflation last month was recorded in Cyprus (0.1%), France (0.7%), Italy (1.2%) and Finland (1.7%).
Meanwhile, higher annual inflation than in Latvia was recorded in Romania (8.6%), Slovakia (4.1%), Estonia (4.0%), Croatia and Austria (both 3.8%), as well as Bulgaria (3.5%). In Lithuania, annual inflation amounted to 3.2%.
On average, annual inflation in the EU was 2.3% in December, while in the euro area it stood at 1.9%.
Compared with the previous month, November, consumer prices in December increased by 0.1% in the EU and by 0.2% in the euro area.
In Latvia, as well as in Poland and Portugal, consumer prices remained unchanged in December compared with November. Month-on-month inflation was recorded in 15 EU member states, with the highest increase in Ireland (+0.6%). Of the nine countries where deflation was observed, the largest decline was recorded in Denmark, Estonia, Cyprus and Malta (all at -0.4%). In Lithuania, as in Luxembourg, consumer prices fell by 0.2%.
Eurostat calculates inflation using the EU’s Harmonised Index of Consumer Prices (HICP).
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