Posted: 22.02.2022 16:14:00

Latvia recorded fastest increase in food prices over past decade

Over the past year, Latvia has recorded the sharpest jump in food prices, with the cost of food rising by 7.9 percent – as reported by Delfi

Photo: pixabay.com

Similar inflation rates were last time registered in Latvia back in 2011.

As noted by the Macroeconomic Statistics Department of Latvia’s Central Statistical Bureau, food prices rose by 9.4 percent in January 2022, with vegetable prices rising most significantly: against the 2021 figures, their cost increased by over 20 percent. At the same time, cabbage, onions and carrots became 30 percent more expensive. Prices of vegetable oils, milk, cheese and eggs rose as well.

Over a year, bread and grain products have become 10 percent more expensive on average, while prices of some products, in particular potatoes and buckwheat, have increased by 60 percent.

Experts believe prices will not drop in the coming months.