Estonia's inflation fell to 17.5 percent in December

A shopper at Tallinn's Central Market.
A shopper at Tallinn's Central Market. Source: Priit Mürk/ERR

Estonia's inflation rate fell to 17.5 percent in December, falling below 20 percent for the first time since May. The Eurozone average was 9.6 percent.

Latvia had the highest rate of inflation last month at 20.7 percent, followed by Lithuania with 20 percent and then Estonia, Eurostat data showed.

The three countries have had the highest rates since last spring.

The EU's statistics agency's latest monthly flash estimate showed energy, food, alcohol and tobacco prices pushed up prices.

Slovakia followed in fourth place with 15 percent and Italy with 12.3 percent.

Spain's inflation rate was the lowest at 5.6 percent, followed by Luxembourg with 6.2 percent.

The Eurozone's rate dropped from 10.1 percent in November to under 10 percent.

The European Central Bank has raised base interest rates four times since July, leading to an increase of 2.5 percent.

It aims to reduce inflation to 2 percent and more hikes are expected this year.


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Editor: Barbara Oja, Helen Wright

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