FX.co ★ Latvia Retail Sales Fall the Most in Nearly 2 Years

In May 2025, Latvia experienced a 2% year-on-year decline in retail sales, reversing the 0.6% increase seen in April. This represents the steepest drop since September 2023. Specifically, sales for non-food items fell by 0.1%, down from the 3.6% growth recorded in April, with significant declines noted in categories such as cultural and recreational goods, household electrical appliances, and market stall sales. Food product sales also decreased, with the rate of decline accelerating to 5% compared to 1% previously. However, the decrease in automotive fuel sales showed signs of improving, moderating to a 1.3% decline from a 4.7% drop. Month-on-month, retail trade decreased by 0.7% in May, after having risen by 0.3% in April.