Inflation Latvia 2003
Average inflation: 2.9%
Inflation in 2003
Inflation is normal at 2.9%, around the ECB target.
Peak and Trough
The highest inflation was in July at 3.8%. The lowest inflation was in January at 1.4%.
- Highest month
- July: 3.8%
- Lowest month
- January: 1.4%
- Difference
- 2.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Health with an average of 5.9%. The lowest price increase was in Communication with an average of -3.8%.
- Highest increase
- Health: 5.9%
- Lowest increase
- Communication: -3.8%
Historical Context
Inflation is around the 5-year average of 2.5%.
- 5-year average
- 2.5%
- 10-year average
- 10.4%
- All-time high (1992)
- 900.2%
- All-time low (2002)
- 1.9%
Trend
Over the period 2001-2003, inflation has remained relatively stable. Compared to 2002, inflation has risen by 1.0 percentage points.
- Change vs. previous year
- +1.0 percentage points
- Largest monthly swing
- July: +2.8 percentage points
ECB Target
Inflation is 0.9 percentage points 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 €102.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| January | 1.4% | -2.0 |
| February | 2.1% | -1.2 |
| March | 2.2% | -1.0 |
| April | 2.5% | -0.4 |
| May | 2.5% | +0.5 |
| June | 3.7% | +2.7 |
| July | 3.8% | +2.8 |
| August | 3.5% | +2.6 |
| September | 3.2% | +2.2 |
| October | 3.3% | +1.7 |
| November | 3.6% | +2.0 |
| December | 3.6% | +2.2 |
| Average | 2.9% |
Data source
Data from OECD. Last updated: 13/01/2026.