Inflation Latvia 2021
Average inflation: 3.3%
Current Inflation
Inflation is high at 3.3%, well above the ECB target.
Peak and Trough
The highest inflation was in December at 7.9%. The lowest inflation was in January at -0.5%.
- Highest month
- December: 7.9%
- Lowest month
- January: -0.5%
- Difference
- 8.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Transport with an average of 8.5%. The lowest price increase was in Education with an average of 0.7%.
- Highest increase
- Transport: 8.5%
- Lowest increase
- Education: 0.7%
Historical Context
Current inflation is 1.0% higher than the 5-year average of 2.3%.
- 5-year average
- 2.3%
- 10-year average
- 1.5%
- All-time high (2008)
- 15.5%
- All-time low (2010)
- -1.1%
Trend
Inflation has remained relatively stable. Compared to 2020, the difference is minimal (+3.1 percentage point).
- Change vs. previous year
- +3.1 percentage points
- Largest monthly swing
- December: +8.4 percentage points
ECB Target
Inflation is 1.3% 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 €103.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | -0.5% | -2.7 |
| February | -0.2% | -2.5 |
| March | 0.3% | -1.1 |
| April | 1.7% | +1.7 |
| May | 2.6% | +3.2 |
| June | 2.7% | +3.4 |
| July | 2.8% | +2.3 |
| August | 3.7% | +3.9 |
| September | 4.8% | +5.1 |
| October | 6.0% | +6.7 |
| November | 7.5% | +8.2 |
| December | 7.9% | +8.4 |
| Average | 3.3% |
Data source
Data from OECD. Last updated: 11/01/2026.