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Reflections on the Competition of Student Scientific Research Papers organised by Latvijas Banka
Impact of Russia's invasion of Ukraine on energy prices. What are the potential inflation scenarios?
The Russian invasion of Ukraine – what will it mean for the Latvian economy?
The inflation forecast is revised upwards, but the annual rates to decelerate next year

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2.9%

Latvijas Banka has upwarded revision of the growth forecast for 2022 to 2.9%

Inflation GDP JOB SEEKERS RATE (%) Current account

Inflation (year-on-year; %; HICP)

GDP at constant prices (adjusted data; year-on-year; %)

Registered unemployment rate (% of economically active population)

Current account balance (% of GDP)

All

Macroeconomic Indicators

EXPERT'S COMMENT

Ieva Opmane

Economist, Latvijas Banka

Inflation in May continued to surge (+16.9% year-on-year) mainly owing to rising energy and food prices.

EXPERT'S COMMENT

Agnese Rutkovska

Economist, Latvijas Banka

With the pandemic-related restrictions losing their grip, the economic activity has enjoyed a significant growth during the first quarter.

EXPERT'S COMMENT

Ieva Opmane

Economist, Latvijas Banka

Despite high uncertainty and rising production costs the unemployment rate in Latvia hovers slightly above seven per cent (7.3%)

EXPERT'S COMMENT

Guntis Kalniņš

Economist, Latvijas Banka

In the first quarter of 2021, the value of exports of goods increased by 8.2%, with the biggest contribution coming from the "hot" exports of products of wood, driven by high demand in the construction sector and the related increase in prices.

2021 V	2.6
2021 VI	2.7
2021 VII	2.8
2021 VIII	3.6
2021 IX	4.7
2021 X	6.0
2021 XI	7.4
2021 XII	7.9
2022 I	7.5
2022 II	8.8
2022 III	11.5
2022 IV	13.1
2022 V	16.8

2021 Q1	-0.4
2021 Q2	10.1
2021 Q3	4.8
2021 Q4	2.7
2022 Q1	6.4

2021 IV	7.9
2021 V	7.6
2021 VI	7.4
2021 VII	7.1
2021 VIII	6.5
2021 IX	6.0
2021 X	6.0
2021 XI	6.4
2021 XII	6.7
2022 I	6.9
2022 II	6.8
2022 III	6.6
2022 IV	6.5

2021 Q1	-1.9
2021 Q2	-6.4
2021 Q3	-5.7
2021 Q4	2.4
2022 Q1	-7.1

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Reflections on the Competition of Student Scientific Research Papers organised by Latvijas Banka

Impact of Russia's invasion of Ukraine on energy prices. What are the potential inflation scenarios?

The Russian invasion of Ukraine – what will it mean for the Latvian economy?

The inflation forecast is revised upwards, but the annual rates to decelerate next year

Inflation (year-on-year; %; HICP)

GDP at constant prices (adjusted data; year-on-year; %)

Registered unemployment rate (% of economically active population)

Current account balance (% of GDP)

EXPERT'S COMMENT

EXPERT'S COMMENT

EXPERT'S COMMENT

EXPERT'S COMMENT

MACRO DEVELOPMENTS REPORT

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