Inflation up again in Latvia, Lithuania

Dec 10, 2007
By Mike Collier

VILNIUS/RIGA – The latest official inflation statistics from Lithuania and Latvia reveal that consumer prices are still rising fast.

In Lithuania from October to November, prices rose by 1.1 percent, bringing the annual inflation figure to 7.8 percent. Average annual inflation in November equalled 5.4 per cent.

In Latvia, the increase was even larger. Compared to October, the average consumer price level in November 2007 rose by 1.4% to 13.7%.

Price increases of bread and cereal products, vegetables, meat and meat products, milk, cheese, eggs and fuel had the greatest impact on consumer price changes.

Prices continued to grow for heating, water supply, refuse collection and sewerage services. The rent of dwellings also increased.

Former minister Aigars Stokenbergs' prediction of 15 percent inflation in Latvia by the end of the year is looking more likely by the minute.