RIGA, July 8, 2024 - The Latvian Central Statistical Bureau announced a significant rise in the country’s Consumer Price Index (CPI) for June 2024. According to the latest data, the CPI reached 1.40%, marking a notable jump from the 0.10% registered in May 2024.
The year-over-year comparison illustrates this as a striking development, considering the CPI had plateaued in May. The rise from May’s minimal 0.10% to June’s 1.40% suggests that cost pressures have accelerated substantially within a month. Analysts are closely examining the factors contributing to this surge, which could impact monetary policy decisions and economic forecasts for the remainder of the year.
Economists are keen to understand whether this increase is an anomaly or indicative of a longer-term trend. With the updated data now available, policymakers and market participants alike will be adjusting their strategies to address the potential underlying causes of this inflationary pressure, which range from domestic economic activities to global market influences.
