Inflation Latvia 1997
Average inflation: 8.5%
Inflation in 1997
Inflation is very high at 8.5%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 11.4%. The lowest inflation was in December at 7.0%.
- Highest month
- January: 11.4%
- Lowest month
- December: 7.0%
- Difference
- 4.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Communication with an average of 38.3%. The lowest price increase was in Food and non-alcoholic beverages with an average of 2.6%.
- Highest increase
- Communication: 38.3%
- Lowest increase
- Food and non-alcoholic beverages: 2.6%
Historical Context
Inflation is 44.1 percentage points lower than the 5-year average of 52.6%. This approaches the lowest level since records began (8.5% in 1997).
- 5-year average
- 52.6%
- 10-year average
- 193.8%
- All-time high (1992)
- 900.2%
- All-time low (1997)
- 8.5%
Trend
Over the period 1995-1997, inflation shows a downward trend. Compared to 1996, inflation has fallen by 9.2 percentage points.
- Change vs. previous year
- -9.2 percentage points
- Largest monthly swing
- January: -11.8 percentage points
ECB Target
Inflation is 6.5 percentage points 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 €108.50 next year at this inflation rate.
Multi-year trend
Monthly figures 1997
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1996 |
|---|---|---|
| January | 11.4% | -11.8 |
| February | 9.9% | -11.6 |
| March | 8.6% | -11.6 |
| April | 8.8% | -9.7 |
| May | 9.1% | -8.3 |
| June | 7.5% | -10.1 |
| July | 7.7% | -10.0 |
| August | 8.6% | -8.9 |
| September | 8.1% | -8.0 |
| October | 7.7% | -8.0 |
| November | 7.4% | -7.0 |
| December | 7.0% | -6.1 |
| Average | 8.5% |
Data source
Data from OECD. Last updated: 13/01/2026.