Estonian inflation below eurozone average in August

Sausages in a supermarket.
Sausages in a supermarket. Source: Priit Mürk/ERR

In August, inflation slowed to 5.2 percent in the eurozone and to 5.9 percent in the European Union. Inflation in Estonia was 4.3 percent in August.

Inflation in the euro area was 9.1 percent a year earlier and 5.3 percent a month earlier. In the European Union, the corresponding figures were 10.1 and 6.1, Eurostat reports.

Hungary had the highest inflation rate in the European Union in August, at 14.2 percent, with the Czech Republic coming in second at 10.1 percent and Slovakia in third at 9.6 percent.

Among the EU countries, inflation was slowest in Denmark, at 2.3 percent, and in Belgium and Spain, at 2.4 percent.

In August, Estonia's inflation rate was 4.3 percent, which was lower than the eurozone and European Union averages. Consumer prices in Estonia increased by 0.5 percent in August compared to July. At the same period last year, Estonia had the fastest inflation rate in both the eurozone and the European Union.

Annual inflation fell in 15 Member States, climbed in 11, and remained steady in one.

In Belgium, month-over-month price growth was the highest at 2.5 percent, followed by Luxembourg at 1.9 percent and France at 1.1 percent. Monthly price declines in Finland, Denmark, and Latvia were 1.1, 0.8, and 0.5 percent, respectively.

In the euro area, services prices increased by 2.41 percentage points in August, followed by food, alcohol, and tobacco, which increased by 1.98 percentage points, and industrial goods, which rose by 1.19 percentage points. The influence of energy costs decreased by 0.34 percentage points.


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Editor: Barbara Oja, Kristina Kersa

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