Inflation rates by country and year

-1.1%8.2%17.4%26.7%35.9%109%951.7%
-1.1%8.2%17.4%26.7%35.9%109%951.7%
1992951.7%
200815.4%
20253.7%
Source: World Bank

Data: World Bank, annual %. For information only — not financial advice.

Year2025Inflation Rate3.7%

Behind the curve

Turning points in Latvia

  1. 1992↑ Upward pressure

    The economy of Latvia — Wikipedia (opens in a new tab)

    The early post-Soviet transition and the ruble's collapse produced high inflation before the lats anchored prices.

    Bank of Latvia
  2. 2008↕ Mixed effects

    The Latvian financial crisis — Wikipedia (opens in a new tab)

    The 2008–09 crisis and deep recession collapsed demand, and Latvia moved from high inflation to deflation.

    Bank of Latvia
  3. 2022↑ Upward pressure

    The post-pandemic inflation surge — Wikipedia (opens in a new tab)

    Higher energy and food prices pushed Latvian inflation to multi-year highs in 2022.

    Bank of Latvia

These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.

What is the inflation in Latvia?

The annual inflation rate in Latvia was 3.7% in 2025, the most recent year in the World Bank dataset. That means prices rose 3.7% on average compared with the year before. Use the chart above to explore Latvia's full inflation history from 1992 to 2025, and to compare it with any other country.

How inflation in Latvia has changed

Inflation in Latvia peaked at 951.7% in 1992 and reached its lowest point at -1.1% in 2010. Averaged across the 34 years of available data (1992–2025), the rate has been 37.1% per year.

Frequently asked questions about inflation in Latvia

What is the current inflation rate in Latvia?

The latest available annual figure is 3.7% in 2025, from the World Bank. Because the figures are reported annually, they may not reflect the most recent monthly reading published by Latvia's statistical office.

What was the highest inflation rate in Latvia?

The highest annual inflation rate on record is 951.7%, reached in 1992.

What was the lowest inflation rate in Latvia?

The lowest annual inflation rate on record is -1.1%, recorded in 2010.

Where does the inflation data for Latvia come from?

All figures come from the World Bank's World Development Indicators (indicator FP.CPI.TOTL.ZG), which report annual consumer price inflation for more than 200 countries and territories from 1960 onward.