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Economics Ministry expects inflation in Latvia to keep slowing in 2015

Xinhua, February 12, 2015 Adjust font size:

Latvian consumer prices are likely to rise at an even slower pace this year than last year when annual inflation averaged at 0.4 percent, the Latvian Economics Ministry said on its official website Wednesday.

"In 2015, the average consumer price level is going to rise at a slower rate than in 2014," Ieva Snidere, an official at the Economic Development and Labor Market Forecasts Department of the Economics Ministry, said.

Snidere noted that consumer prices traditionally rose in December, but this year's January inflation had been the lowest since 1998, except for a deflation recorded in January 2013. He attributed this to a drop in oil and food prices in the world.

In January 2015, Latvian consumer prices edged up 0.1 percent against December 2014, but dropped 4 percent from January 2014, the national statistics office reported. Endit