Estonia's inflation slows to 6.3 percent in July

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Solaris grocery store.
Solaris grocery store. Source: Priit Mürk/ERR

Preliminary data from Statistics Estonia suggests that consumer prices grew by 6.3 percent in July year-over-year. The consumer price index came down 0.39 points from last month.

Inflation slowed to 9.2 percent on year in June, Statistics Estonia's data shows.

A year ago in July, inflation in Estonia was still at 22.8 percent.

Eurostat: Eurozone inflation falls to 5.3 percent

The Euro area's annual inflation continued to fall in July, data from Eurostat, the statistical office of the European Union, show. It fell from 5.5 percent to 5.3 percent.

The main reasons behind inflation are food, alcohol and tobacco, which is expected to have the highest annual rate in July (10.8 percent, compared with 11.6 percent in June), followed by services (5.6 percent), non-energy industrial goods (5.0 percent) and energy (-6.1 percent, compared with -5.6 percent in June).

Slovakia had the highest rate of inflation at 10.2 percent, followed by Croatia with 8.1 percent, Lithuania on 7.1 percent, and Austria with 7.0 percent.

Belgium had the lowest inflation at 1.6 percent.

Additionally, GDP was up by 0.3 percent in the euro area and stable in the EU at the end of the second quarter.

However, the Estonian economy to expected to stay in recession.


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Editor: Marcus Turovski, Helen Wright

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