FX.co ★ Latvia Inflation Remains Stable In August

Latvia's consumer price inflation held steady to remain at its record high in August, preliminary data from the statistical office showed on Thursday.

Consumer prices surged 21.5 percent year-on-year in July, the same rate of increase as in the previous month.

The overall inflation was largely driven by a 52.4 percent surge in housing costs, led by increased prices for electricity, heat energy, solid fuels and natural gas.

Transport charges also registered a sharp annual growth of 23.4 percent amid a 40.4 percent surge in fuel prices.

Prices for food and non-alcoholic beverages grew 25.7 percent and those for restaurants and hotels rose 15.0 percent.

On a monthly basis, consumer prices moved up 0.2 percent in August, after a 2.2 percent gain in the prior month.