Flash Comment - August 8, 2011
Latvia: CPI annual growth decelerated in July 2011
Latvian CPI declined by 0.3% month-on-month in July 2011 (+4.3% in annual terms). The influence of global commodity prices on Latvian inflation has diminished, and it is expected to hold back local price growth in the remaining months of the year. CPI annual growth has peaked in the first half of the year (5% in May) and will most likely stay at about 4.5% in the nearest months.