July annual inflation above EU average ({{contentCtrl.commentsTotal}})

Euros. Source: Karin Koppel

Estonia's annual inflation in July totaled 2 percent, coming in above the EU average, however it still ranked below that of 11 other member states.

The annual inflation rate in the euro area was 1 percent in July, down from 1.3 percent in June. EU inflation increased 1.4 percent on year in July, down from 1.6 percent in June. A year earlier, the rate was 2.2 percent in the euro area and the EU as a whole alike, it appears from figures published by Eurostat.

The highest annual rates were recorded in Romania at 4.1 percent, Hungary at 3.3 percent, and Latvia and Slovakia at 3 percent each.

The lowest annual rates, meanwhile, were registered in Portugal at -0.7 percent, Cyprus at 0.1 percent, and Italy at 0.3 percent, followed by Denmark and Greece at 0.4 percent each.

Of Estonia's neighbors, the annual inflation rate was 2.5 percent in Lithuania, 1 percent in Finland and 1.5 percent in Sweden.

Last month, the biggest contributor to the annual euro area inflation rate came from services, which increased the figure by 0.53 percentage points, followed by food, alcohol and tobacco, which increased the figure by 0.37 percentage points, non-energy industrial goods, by 0.08  percentage points, and energy, by 0.05 percentage points.


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Editor: Aili Vahtla

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