In April-June, food product prices increased in all three Baltic States. Food products are more expensive in supermarkets in Riga when compared to neighbouring countries, according to data from the head of Agricultural Market Promotion Department of the Institute of Agro-Resource and Economics Inguna Gulbe. “Baltic States are no exception, similarly to the rest of…
Inflation in the 19 countries using the euro currency has climbed to a record 8.6%. Surging energy prices amid the Ukraine war have pushed prices up. The euro hit a record 8.6% in June, up by 0.5% MoM. Inflation was pushed by an increase in energy costs, which had risen by 41.9% compared to last…
European grid operators are ready to implement immediately a long-term plan to bring the Baltic States, which rely on the Russian grid, into the European Union system in the event Moscow cuts them off, three sources familiar with the matter say. Concern about depending on Russia for any form of energy has mounted across Europe…
Given the choice, most Latvian residents would retire sooner than what is provided by Latvian legislation, according to results of a survey conducted by Citadele Bank in June. 57% of interviewed Latvian residents would like to retire at the age of 51-60 years. This response turned out the most popular in Lithuania and Estonia, where…
In Baltic States, as well as in countries like Finland, Sweden and Germany, electricity prices increased last month. The average electricity price in May increased by 50%, reaching 164.20 EUR/MWh in Latvia and 151.37 EUR/MWh in Estonia. In Lithuania the average electricity price reached 164.71 EUR/MWh, up by 41% MoM. In May, the hourly price…
At the beginning of the year housing availability index in Baltic States started limping. The shocks caused by the war in Ukraine have impacted the real estate market a lot. Growing construction costs, shortage of construction materials and rapidly growing inflation causes concerns regarding housing availability in the near future. Swedbank Baltic Housing Affordability Index…
In its report published on June 8, the Organisation for Economic Cooperation and Development (OECD) predicted Latvia to experience the most rapid economic growth among Baltic States. OECD predicts Latvia’s GDP may increase by 3.5% this year. Next year Latvia’s economy is expected to grow by 1.6%. The coordinated consumer price index in Latvia, according…