In Latvia, the annual inflation rate in September was higher than the average in the European Union and the eurozone, according to data published by the EU statistical office Eurostat. But there is more to come.
Economist Dainis Gašpuitis noted on the TV24 program "Dienas persona" that inflation has likely peaked, with rising food prices accounting for half of its increase.
"We expect inflation to decrease slightly over the next year. There will not be such a sharp rise in food prices as we saw at the beginning of this year. But overall, inflation will remain — the cost of living will continue to rise, although the pace of growth should become somewhat more moderate," Gašpuitis explained.
At the same time, according to him, service prices continue to rise, and this trend will remain relevant for a long time.
"Riga residents will have to pay dearly for heating, garbage collection, and utility services in general," emphasized the economist.
For comparison: The annual inflation rate in Latvia in September was 4.2%. In turn, the lowest inflation was recorded in France (1.1%), Greece and Italy (1.8%), Portugal (1.9%), and the Czech Republic (2%).
The highest inflation was noted in Romania (8.6%), Estonia (5.3%), Slovakia and Croatia (4.6% each), as well as in Hungary (4.3%).
In Lithuania, the annual inflation rate was 3.7%.
On average, inflation in the EU in September was 2.6%, and in the eurozone — 2.2%.
Eurostat calculates inflation based on the harmonized index of consumer prices (HICP), adopted in all EU countries.
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