Macroeconomic Developments Report. June 2018
In the course of the last six months, Latvijas Banka's assessment of Latvia's economic outlook has been revised downwards. In 2017, economic expansion reached its highest rate seen in the last six years, and GDP growth also surprised on the upside in the first quarter of 2018. However, the recent developments in the financial sector and less optimistic signals coming from the external environment call for a downward revision of the GDP forecast.
Inflation dynamics is in line with the inflation forecast for 2018. As expected, the impact of the domestic demand on inflation is gradually increasing, whereas the rising global oil prices are offset by lower food prices.
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