Latvia - Consumer Price Index (CPI)





Latvia: Consumer Price Index (CPI)

Mnemonic CPI.ILVA
Unit Index 2015=100, NSA
Adjustments Not Seasonally Adjusted
Monthly 0.37 %
Data Jun 2019 109.7
May 2019 109.3

Series Information

Source Central Statistical Bureau of Latvia
Release CPI
Frequency Monthly
Start Date 1/31/1992
End Date 6/30/2019

Latvia: Price

Reference Last Previous Units Frequency
Consumer Price Index (CPI) Jun 2019 109.7 109.3 Index 2015=100, NSA Monthly
Producer Price Index (PPI) May 2019 106.9 107.4 Index 2015=100, NSA Monthly
Wholesale Price Index 2016 110.08 112.75 Index 2010 = 100 Annual

Release Information

The consumer price index reflects changes in the prices of consumer goods and services in a specified period of time. The CPI measures the average level of price changes in a fixed amount of selected goods and services (the consumer basket).

This indicator is used as a principal measure of inflation in Latvia. The CPI base or comparison periods are the years 2010 and 2015, which is expressed by 100 index points (2010=100) or (2015=100). Price changes during a month, year or any other period are calculated on the basis of price indices.

Source of data

The CPI covers all resident population of the country, and is conducted in Riga and 11 district centres. By using the population weights, survey data are expanded to the whole country, both urban and rural areas.

Sample size

Approximately 2.3 thousand various trade outlets and market service establishments are surveyed. In total, more than 19,000 prices are observed each month.

Description of data

Prices of most goods are recorded every month fromt he 8th to the 20th of the reference month, while selected goods with larger price fluctuations are monitoried over a longer period of time. The weights are computed to represent the proportion of expenditures for each individual commodity to total household expenditure and are review every year.

The Household Budget Survey is a prominent source used for the calculation of weights, while macroeconomic calculations, business statistics and information from organizations, and shops and enterprises are used as additional sources.

Methods of calculation

At first, the average prices of products and services are collected, then the whole country average is calculated as simple arithmetic mean. 

Classification

All goods and services in the CPI basket are grouped according to the classification of individual (final) consumption by purpose (international designation COICOP).

Additional information

Due to specifics of electronic data processing technologies and rounding adjustments, minor differences may occur between totals and sums of components.

The published data are final and are not the subject of revisions.