Latvia: energy inflation rate by commodity 2024

After remaining relatively stable for about two years, the inflation rates of energy commodity prices in Latvia began to increase significantly in 2021. Gas saw the steepest rise, with the inflation rate peaking at 151 percent in July 2022, which came amid the Russia-Ukraine war.

Harmonized index of consumer prices (HICP) energy inflation rate in Latvia from January 2019 to February 2024, by commodity

Characteristic	Energy	Gas	Electricity
Feb '24	-9.9%	-13.8%	-7.3%
Jan '24	-10.8%	-13.8%	-2.7%
Dec '23	-13.4%	-20.4%	-12.2%
Nov '23	-14.3%	-20.7%	-6.4%
Oct '23	-11%	-19.2%	-2.7%
Sep '23	-9.8%	-19.4%	-26.7%
Aug '23	-4.6%	-19.3%	-6.7%
Jul '23	-5.5%	-33%	13%
Jun '23	-2.7%	6.1%	6.3%
May '23	10.4%	6.2%	25.2%
Apr '23	23.2%	60.4%	56.2%
Mar '23	28.9%	62.8%	60.2%
Feb '23	45.9%	65.6%	90.2%
Jan '23	50.7%	65.7%	89.8%
Dec'22	45.3%	103.1%	22.9%
Nov'22	51.7%	104.9%	29%
Oct'22	56.5%	106.1%	32.8%
Sep'22	65%	107.9%	95.9%
Aug '22	67%	108.1%	100.4%
Jul '22	70.2%	151%	78.5%
Jun '22	63.7%	106.3%	63.2%
May '22	55.1%	106.6%	49.3%
Apr '22	34.1%	71.1%	-5.9%
Mar '22	31.3%	68.5%	-4.9%
Feb '22	20.4%	65.5%	-17.8%
Jan '22	19.2%	65.3%	-18%
Dec '21	27.4%	40.4%	32.7%
Nov '21	29.5%	39%	23.9%
Oct '21	24.1%	37.6%	18.1%
Sep '21	17.3%	36.5%	12.5%
Aug '21	13.5%	36.4%	7.8%
Jul '21	10%	36.1%	3.2%
Jun '21	6.7%	-2.5%	1.7%
May '21	8.6%	-2.5%	0.1%
Apr '21	6.7%	-2.7%	-0.5%
Mar '21	-0.3%	-2.7%	-0.9%
Feb '21	-4.3%	-2.7%	-0.3%
Jan '21	-7.7%	-2.7%	-0.5%
Dec '20	-8.5%	-12%	-2.7%
Nov '20	-10.1%	-12.1%	-2.9%
Oct '20	-10.5%	-11.8%	-3.1%
Sep '20	-9.2%	-11.9%	-3%
Aug '20	-9.1%	-12%	-2.9%
Jul '20	-6.6%	-12%	-3.1%
Jun '20	-8.8%	-18.5%	-2.7%
May '20	-11.6%	-18.6%	-3%
Apr '20	-10.1%	-18.5%	-2.9%
Mar '20	-3.4%	-18.5%	-2.6%
Feb '20	0.3%	-18.4%	-2.7%
Jan '20	1.7%	-18.4%	-2.9%
Dec '19	2%	-7.5%	10.2%
Nov '19	-0.2%	-7.2%	10.3%
Oct '19	0.1%	-7.1%	10.4%
Sep '19	1.7%	-6.9%	10.3%
Aug '19	2.4%	-6.6%	10.4%
Jul '19	0.8%	-6.5%	10.5%
Jun '19	3.1%	20%	7.5%
May '19	5.8%	19.9%	7.6%
Apr '19	6.1%	20%	7.7%
Mar '19	5%	19.6%	7.4%
Feb '19	4.5%	19.9%	7.7%
Jan '19	5.2%	19.8%	8.2%

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Release date

March 2024

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Region

Latvia

Survey time period

January 2019 to February 2024

Supplementary notes

According to the source, the Harmonized Indices of Consumer Prices (HICP) measure changes in the prices of consumer goods and services over time. These indices provide comparable measures of inflation.

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