Inflation Latvia 1998
Average inflation: 4.7%
Current Inflation
Inflation is high at 4.7%, well above the ECB target.
Peak and Trough
The highest inflation was in January at 6.3%. The lowest inflation was in November at 2.8%.
- Highest month
- January: 6.3%
- Lowest month
- November: 2.8%
- Difference
- 3.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Communication with an average of 16.9%. The lowest price increase was in Food and non-alcoholic beverages with an average of 1.3%.
- Highest increase
- Communication: 16.9%
- Lowest increase
- Food and non-alcoholic beverages: 1.3%
Historical Context
Current inflation is 13.7% lower than the 5-year average of 18.4%. This approaches the lowest level since records began (4.7% in 1998).
- 5-year average
- 18.4%
- 10-year average
- 166.8%
- All-time high (1992)
- 900.2%
- All-time low (1998)
- 4.7%
Trend
Inflation shows a downward trend. Compared to 1997, inflation has fallen by +3.8 percentage point.
- Change vs. previous year
- -3.8 percentage points
- Largest monthly swing
- January: -5.1 percentage points
ECB Target
Inflation is 2.7% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €104.70 next year at this inflation rate.
Multi-year trend
Monthly figures 1998
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1997 |
|---|---|---|
| January | 6.3% | -5.1 |
| February | 6.1% | -3.8 |
| March | 6.0% | -2.6 |
| April | 6.0% | -2.8 |
| May | 5.4% | -3.7 |
| June | 5.9% | -1.6 |
| July | 4.6% | -3.1 |
| August | 3.7% | -4.9 |
| September | 3.5% | -4.6 |
| October | 2.9% | -4.8 |
| November | 2.8% | -4.6 |
| December | 2.8% | -4.2 |
| Average | 4.7% |
Data source
Data from OECD. Last updated: 13/01/2026.