LV: Latvian deflation of 4.3% y/y highest in EU in February-Eurostat.

By bne IntelliNews March 17, 2010
According to the report by European Statistical Agency Eurostat, Latvia posted annual deflation of 4.3% in February 2010, which was the highest deflation rate among EU member states. Previously, until April 2009, Latvia posted the highest inflation in EU for twenty months in a row and with rare breaks Latvian inflation was among highest in EU for almost four years already. Consumer prices decreased by 4.2% y/y in February 2010 (deflation of 3.1% y/y in January), according to a report by Central Statistical Bureau. Notably, this was the fifth month in a row that y/y deflation is posted. Prices decreased by 3.9% y/y for goods and by 4.8% y/y for services in February.

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