Bank analysist project Latvia's annual inflation in April at 13.2-13.3%

• Published date: 09 May 2022
• Publication title: LETA

RIGA, May 9 (LETA) - In April 2022 Latvian consumer prices have likely climbed by 2.5 percent from March, which means that over the year they have probably surged by 13.2 to 13.3 percent, a LETA survey of bank analysists show.

Swedbank economist Laura Orleane told LETA that in April consumer prices probably rose by 2.5 percent month-on-month, with the annual inflation rate hitting 13.3 percent.

"The key drivers of inflation, most probably, remained the same last month - food products, housing related costs and fuel prices," Orleane said.

She indicated that the rise in food prices was still reflecting events prior to the Russian invasion of Ukraine - the energy crisis, growing demand fueled by a recovery from the pandemic, supply chain disruptions and adverse weather conditions affecting crops.

lthough the wholesale prices of electricity and natural gas declined in April, they still remained high, and the support scheme that was...