Average annual inflation in the euro area over this period has been 1.98%, in line with our definition of price stability, and this is the best result recorded since the Second World War in all of the euro area economies.
In October, the demand for cash continued to increase, and currency in circulation grew by 7.2 million lats (by 6.5 million lats in September), reaching 576.2 million lats. At the same time, no major changes were observed in banks' deposits with the Bank of Latvia. Hence, the monetary base rose 7.6 million lats over its September level (to 665.5 million lats).