Baltic inflation still highest in EU

  • 2008-07-18
  • In cooperation with BNS

Photo: Luis Miguel Munoz-Najar

Inflation in Latvia,at nearly 18 percent, remains the highest in the EU, despite a two percentdecrease.

According to data released by the European Unions statistical office, Eurostat, Latviastill remains number one for the third year running.

Coming in at a closesecond is Bulgariawith nearly 15 percent inflation this year. About this time last year, Hungary had been nudging forward as the nationwith the highest inflation, but Latviastill reigns supreme.

The other Baltic States are not to be excludedfrom this high inflation. Lithuaniaand Estoniahave seen a rise in the inflation levels hovering around the 13 and 12 percentmark respectively.

However, it seems that the rest of the EU has curbedits high inflation problems somewhat, as the next countries are far lower, withRomania at 8.7 percent and Slovenia witharound 7 percent.
But the battle isn't over, Compared to May of this year, the annual inflationhas increased in 21 of the 27 EU nations.

Average annual inflation in all the 27 EU member states was 4.3 percent inJune, compared to 4 percent in May. A year ago, average annual inflation in theEU was 2.1 percent. The annual inflation in Euro-zone was 4 percent in June,comparing with 3.7 percent in May. A year ago, average annual inflation was 1.9percent.