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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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0.3%	the flash estimate of GDP growth in the fourth quarter of 2022.

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

The forecasts suggest that this year, the overall increase in consumer prices will be considerably lower than last year

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 XII	7.9
2022 I	7.5
2022 II	8.8
2022 III	11.5
2022 IV	13.1
2022 V	16.8
2022 VI	19.2
2022 VII	21.3
2022 VIII	21.4
2022 IX	22.0
2022 X	21.7
2022 XI	21.7
2022 XII	20.7

2021 Q3	4.6
2021 Q4	2.5
2022 Q1	5.0
2022 Q2	2.7
2022 Q3	-0.4

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
2022 V	6.1
2022 VI	5.9
2022 VII	6.0
2022 VIII	5.8
2022 IX	5.7
2022 X	5.7

2021 Q3	-6.8
2021 Q4	2.0
2022 Q1	-7.7
2022 Q2	-9.4
2022 Q3	-5.8

Lending. Still the weak link?

Borrowers in the midst of rising costs: what is the capacity of household borrowers to withstand the sharp increase in prices and interest rates?

What’s the price we are going to pay for electricity?

How high will interest rates rise in the future?

What to learn from the high inflation?

Support measures and energy reserves protect the economy against swaying stronger

Are trade relations with Russia really being severed? What do the latest trade data reveal?

Next step to be taken in recession or will the recession slightly stall?

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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