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Tuesday, April 8, 2008

Latvia Inflation March 2008

Latvia's consumer prices rose again in March, hitting an annual rate of 16.8 percent due in part to the increasing cost of services, according to data today from the statistics office. This was the 10th month in a row that the rate of annual price increase hasrisen in Latvia, keeping it at the top of the European Union inflation Leahue. Month-on-month, prices in March in rose 1.5 percent.

Food prices continued to increase, soaring by 20.8 percent from March 2007. Housing costs were up by 25 percent, while alcohol and tobacco are 45 percent more expensive than a year ago.

A comparative view of Baltic inflation is also quite revealing. As can be seen in the chart below, Latvian inflation is head and shoulders out in front, though this is one competition noone is very happy to be winning.

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