Rising food prices have affected almost 80% of Latvian households, according to survey data from Citadele bank. What is more, one in four admits having had to give up some of their usual products because their outgoings have grown substantially. And fewer than a fifth notice no change in their day-to-day spending on food.
Rising food prices are still being felt in Latvia – most people are having to adapt their consumption habits and plan their shopping more carefully. In total, 25% of those surveyed say their food spending has risen substantially, while a further 30% describe it as having risen “slightly”. Another 23% report that their spending has gone up, but that they can still afford to buy everything as before. Meanwhile, 18% have seen no significant change, and only 3% say their food spending has actually fallen.
The survey data clearly show that rising food prices are still being felt in almost every household – and although some people have managed to keep their previous shopping habits, more and more are being forced to plan their shopping more carefully and weigh up product prices.
Economist: people are still spending cautiously, even though incomes are rising
“Inflation in the Baltic states remains higher this year than the euro area average of around 2%. In Latvia and Lithuania it exceeds 4%, and in Estonia it is 5%. In Latvia, price pressure has been driven in particular by food, housing-related costs and the rise in energy prices compared with the previous year,” says Kārlis Purgailis, chief economist at Citadele bank.
K. Purgailis explains that although consumer sentiment has improved overall – at the start of the year it was affected by geopolitical uncertainty, but growing optimism has been visible since the second quarter – people’s financial habits still point to caution, and growth in consumption remains moderate. Retail figures bear this out too: turnover rose by 2.6% in September.
“The statistics reveal a contradiction between people’s financial means and their spending habits. Although savings in bank accounts are growing, many are choosing to put off larger purchases and are planning their spending more carefully. Money is not being actively channelled into the economy, and its circulation is slowing. This is particularly noticeable in food consumption – an area of spending people encounter every day. Even a small rise in prices creates the feeling that “everything is more expensive”, and people intuitively begin to give up less essential or gourmet, premium-segment foods. On top of that, part of the increase in incomes goes on utility bills during the cold season, leaving less spare money for everyday spending,” says K. Purgailis.
Women and middle-aged people feel rising food prices most often
The data show that women more often than men feel the need to limit their purchases – 26% of women have given up some products, compared with 24% of men.
The rise in spending has been felt most acutely by people aged 30 to 39 – in this group, 30% say their food spending has increased substantially.
Young people under 29, meanwhile, take a relatively lighter view of the situation – 41% say their spending has risen slightly, while only one in five feels a substantial increase in prices.
Older people aged 60 to 74 more often stress that, although their spending has risen, they are still able to maintain their usual shopping habits (28%).
Rising food prices are felt most in Latgale
Regional survey data show that rising food prices are felt most acutely by people in Latgale – 30% of those surveyed say they have had to give up some of their usual products.
The situation is similar in Kurzeme – 28% of residents report a substantial increase in spending, while in Riga and Vidzeme the figure is around 24%.
Zemgale, by contrast, stands out with the opposite trend – here 6% of residents report a fall in spending, the highest figure in the country.
Citadele bank carried out the survey together with the research agency Norstat in October 2025, polling more than 1000 Latvian residents aged 18 to 74 online.
About the Citadele Group
Citadele is the only bank in the Baltic states whose parent company is based in Latvia, which means a proportionally greater contribution to the Latvian economy. Its subsidiaries and branches operate in Latvia, Lithuania and Estonia.
Citadele’s mission is to modernise the financial sector by offering, alongside classic banking services, a range of next-generation services based on financial technology for both private individuals and businesses across the Baltics. In the first nine months of 2025, Citadele issued 1.2 billion euro in new loans, taking its total loan portfolio to 3.67 billion euro, while deposits grew to 4.1 billion euro.