Inflation in Latvia hits record high in 26 years

During the year, prices for goods and services in Latvia jumped by an average of 22.2 percent: the highest figure since 1995, TASS reports

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The Central Statistical Bureau of Latvia named the main cause of inflation: an increase in the cost of food, transport and housing. Fuel, for example, increased in price by 37.4 percent while the cost of food rose by 27.5 percent during the year for Latvian residents.

In August, the average annual inflation in the country stood at 21.5 percent.

In late September, it became known that annual inflation in the Eurozone accelerated to a record 10 percent. In Estonia, this figure exceeded 24 percent last month.