Latvia Inflation At Record High

Latvia's consumer price inflation accelerated further to a new record high in July, as the majority of commodity groups indicated rising prices, preliminary data from the statistical office showed on Monday.

Consumer prices surged 21.5 percent year-on-year in July, following a 19.3 percent rise in June.

The upward trend in inflation was largely driven by a 50.7 percent surge in housing costs, led by increased prices for natural gas, solid fuels, electricity and heat energy.

Transport charges also registered a sharp annual growth of 28.8 percent amid soaring fuel prices.

Prices for food and non-alcoholic beverages grew 24.3 percent and those for restaurants and hotels rose 15.0 percent.

On a monthly basis, consumer prices moved up 2.2 percent in July, after a 2.4 percent gain in the prior month.

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