Inflation Latvia 2008
Average inflation: 15.5%
Current Inflation
Inflation is very high at 15.5%, far above the ECB target.
Peak and Trough
The highest inflation was in May at 17.9%. The lowest inflation was in December at 10.5%.
- Highest month
- May: 17.9%
- Lowest month
- December: 10.5%
- Difference
- 7.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Alcoholic beverages, tobacco and narcotics with an average of 37.3%. The lowest price increase was in Communication with an average of -5.5%.
- Highest increase
- Alcoholic beverages, tobacco and narcotics: 37.3%
- Lowest increase
- Communication: -5.5%
Historical Context
Current inflation is 6.5% higher than the 5-year average of 9.0%.
- 5-year average
- 9%
- 10-year average
- 5.7%
- All-time high (1992)
- 900.2%
- All-time low (2002)
- 1.9%
Trend
Inflation shows an upward trend. Compared to 2007, inflation has risen by +5.4 percentage point.
- Change vs. previous year
- +5.4 percentage points
- Largest monthly swing
- May: +9.7 percentage points
ECB Target
Inflation is 13.5% 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 €115.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2008
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2007 |
|---|---|---|
| January | 15.8% | +8.7 |
| February | 16.7% | +9.4 |
| March | 16.8% | +8.3 |
| April | 17.5% | +8.6 |
| May | 17.9% | +9.7 |
| June | 17.7% | +8.9 |
| July | 16.7% | +7.2 |
| August | 15.7% | +5.6 |
| September | 14.9% | +3.5 |
| October | 13.8% | +0.6 |
| November | 11.8% | -1.9 |
| December | 10.5% | -3.6 |
| Average | 15.5% |
Data source
Data from OECD. Last updated: 11/01/2026.