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Estonia has one of the highest inflation rates in EU

  • 2014-01-16
  • From wire reports, TALLINN

Estonia continues to have one of the highest inflation rates in the European Union, research shows.

Eurostat revealed on Jan. 16 that prices in the euro area increased by 0.8% on average in a year whist in the EU the increase was at 1 percent.

In Estonia the price increase was 2%. Prices in the UK and Austria grew by the same amount, reports public broadcasting.

As compared to other euro area states, Estonia has been the price increase leader since joining it as only in a few months, some other state has been on the top position.

At the international level, harmonised consumer price index (HCPI) is compared. Estonia's consumer price index (CPI) grew by 1.4% in December year-on-year and the inflation was that low three years ago most recently.