Inflation Latvia 1994
Average inflation: 36.1%
Current Inflation
Inflation is very high at 36.1%, far above the ECB target.
Peak and Trough
The highest inflation was in August at 43.1%. The lowest inflation was in December at 26.3%.
- Highest month
- August: 43.1%
- Lowest month
- December: 26.3%
- Difference
- 16.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 33.9%. The lowest price increase was in Food and non-alcoholic beverages with an average of 33.9%.
- Highest increase
- Food and non-alcoholic beverages: 33.9%
- Lowest increase
- Food and non-alcoholic beverages: 33.9%
Historical Context
Current inflation is 334.5% lower than the 5-year average of 370.6%. This approaches the lowest level since records began (36.1% in 1994).
- 5-year average
- 370.6%
- 10-year average
- 370.6%
- All-time high (1992)
- 900.2%
- All-time low (1994)
- 36.1%
Trend
Inflation shows a downward trend. Compared to 1993, inflation has fallen by +139.4 percentage point.
- Change vs. previous year
- -139.4 percentage points
- Largest monthly swing
- January: -536.8 percentage points
ECB Target
Inflation is 34.1% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €136.10 next year at this inflation rate.
Multi-year trend
Monthly figures 1994
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1993 |
|---|---|---|
| January | 34.4% | -536.8 |
| February | 35.0% | -330.6 |
| March | 34.3% | -221.8 |
| April | 37.4% | -184.3 |
| May | 38.0% | -145.5 |
| June | 37.7% | -113.7 |
| July | 38.1% | -73.7 |
| August | 43.1% | -36.1 |
| September | 41.7% | -21.5 |
| October | 38.2% | +2.8 |
| November | 29.6% | -2.0 |
| December | 26.3% | -8.6 |
| Average | 36.1% |
Data source
Data from OECD. Last updated: 17/12/2025.