Europe's Gas Price Shock Hits Latvia with Delay

Natural gas prices in Europe are rising sharply again, but Latvian consumers will not feel the increase in their everyday expenses immediately.

This is because, unlike the other Baltic states, Latvia's gas price shock reaches consumer prices with a delay of several months.

Kārlis Purgailis, Chief Economist at Citadele Bank, notes that higher energy costs will gradually be reflected not only in utility bills but also in the prices of food, goods and services.

The benchmark TTF natural gas price is currently approaching its highest level this year, rising by 14% over five trading days and 83% since the beginning of the year.