Baltic inflation still highest in EU

Inflation in Latvia, at nearly 18 percent, remains the highest in the EU, despite a two percent decrease. According to data released by the European Unions statistical office, Eurostat, Latvia still remains number one for the third year running. Coming in at a close second is Bulgaria with nearly 15 percent inflation this year. About this time last year, Hungary had been nudging forward as the nation with the highest inflation, but Latvia still reigns supreme. The other Baltic States are not to be excluded from this high inflation. Lithuania and Estonia have seen a rise in the inflation levels hovering around the 13 and 12 percent mark respectively.

However, it seems that the rest of the EU has curbed its high inflation problems somewhat, as the next countries are far lower, with Romania at 8.7 percent and Slovenia with around 7 percent. But the battle isn’t over, Compared to May of this year, the annual inflation has increased in 21 of the 27 EU nations. Average annual inflation in all the 27 EU member states was 4.3 percent in June, compared to 4 percent in May. A year ago, average annual inflation in the EU 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 1.9 percent.