Published: 12.07.2023.

Household Finance and Consumption Survey

In 2026, the fifth euro area Household Finance and Consumption Survey (HFCS), coordinated by the European Central Bank (ECB), will be conducted.

In Latvia, the survey is carried out by Latvijas Banka in cooperation with the Central Statistical Bureau of Latvia. CSB interviewers will conduct interviews from 13 July 2026 to the end of the year.

The survey includes questions about the household as a whole (property, loans, consumption, savings) as well as about each household member aged 16 or over at the time of the survey (employment, pensions, income).

The ECB and Latvijas Banka use the survey results to analyse economic behaviour of households and assess how macroeconomic developments and policy decisions affect them. For example, the results are used to study factors influencing household borrowing, savings, risk appetite and business activity.

Although participation is mandatory only for euro area countries, other countries took part in the 2023 survey on a voluntary basis, extending the survey to around 90 000 households and underlining its international relevance and value.

National-level results from previous surveys are available in the Latvijas Banka website, while international results are available on the ECB website.

Around 4000 households selected using a random sampling method will receive an invitation letter from Latvijas Banka and CSB by post, email or via their electronic address (e-address).

To assess long-term changes in household finances and consumption, some households that participated in the 2023 survey will be invited to take part again.

We encourage all selected households to be responsive and participate in the survey. Only their responses can provide a true picture of the financial situation of households in Latvia. Each selected household represents many other similar households and helps ensure that all regions of Latvia are fairly represented in the survey.

To verify identity of your interviewer or find out any other information about the survey:

  • CSB toll-free assistance number +371 80008811 on weekdays from 10:00 to 18:00 o’clock;
  • Latvijas Banka assistance number  +371 67022300.

The applicable laws and regulations of the European Union and of the Republic of Latvia allow the CSB to collect and process personal data and mandate it to ensure the protection and confidentiality of the data received.

The responses provided are anonymised. During further data processing, name, surname, telephone number of the respondent and household address are separated from the questionnaire responses and are not used, while selected responses are combined. The information acquired will only be published as a summarised data and used to analyse economic and social phenomena and processes.

Responsibility of the respondents, in accordance with Section 14 of the Statistics Law, is to support the production of official statistics by providing truthful information and participating in the survey.