Consumer prices could be up 4.5-4.8% in September 2011 over a year earlier, according to economists. Prices are expected to have climbed 0.3-0.5% in September versus August.
Swedbank is expecting the sharpest August-September price gains, totalling 4.8% annual inflation.
SEB bank and Citadele experts forecast prices will have increased 0.3% in September compared to August, with annual inflation rate hitting 4.6% and 4.5%, respectively.
According to SEB bank economist Dainis Gaspuitis, September inflation rates will not bring any surprises and prices will be up month-on-month. Food as well as clothing and footwear price gains are among the main drivers of inflation. Fuel might have gained a little as well. Heat costs in turn will have remained flat, he says.
Also Swedbank senior economist Lija Strasuna expects surging food, clothing and footwear prices in September. Due to seasonal factors, increasing prices of clothing and footwear pushed up the inflation rate the most. As opposed to other economists, she forecasts that food price gains will have played a role in reducing the overall price level.
According to Strasuna, the recent global price dynamics of resources has a downward tendency. Moreover, along with growing fear over smaller global demand, price drops of food and energy resources happen to be sharper that expected, she says.
But not for me .I just buy bread and milk in Latvia the rest come from my supplyers from Germany and Poland and I save a lot at leat 100 lats a month Follow me.