LV: Latvian inflation of 1.6% y/y 3rd lowest in EU in October-Eurostat.

By bne IntelliNews November 20, 2012
Latvia posted annual inflation of 1.6% in October 2012, which was the third lowest inflation rate among EU member states, according to the report by European Statistical Agency Eurostat. Estonia posted one of the highest 4.2% y/y annual inflation rates in the reporting month, Lithuania's inflation rate was 3.2%. Average EU and eurozone annual inflation in the reporting month was 2.6% and 2.5%, respectively. Consumer prices increased 1.6% y/y and by 0.0% m/m in October 2012, according to a report by Central Statistical Bureau, down up from 1.7% y/y seen in August and July and 1.8% y/y in September. Annual inflation rate is declining throughout 2012, going down from 3.6% in January to 3.3% in March to 1.6% in October. To compare, CPI amounted to 11.4% in 2008, 1.2% y/y deflation was posted in 2009 and 2.5% y/y in 2010, while in 2011 4% inflation was seen. Previosuly both EconMin and FinMin welcomed the inflation slowdown, reiterating their forecasts of 2.5%-2.6% average inflation for this year.

LV: Latvian inflation of 1.6% y/y 3rd lowest in EU in October-Eurostat.

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