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Saturday, 25.05.2013, 20:18
Annual inflation reduced to 1.4% in the European Union in April 2013, compared to 1.9% in March, according to the latest data from the EU's statistical office Eurostat, writes LETA.
Keyword tags: Analytics, EU – Baltic States, Inflation
Statistics Lithuania informs that in April 2013, average annual inflation calculated based on the harmonised index of consumer prices (HICP), which is methodologically harmonised with those of other EU member states, stood at 2.7%.
Compared to April 2012, the average consumer price level in Latvia in April 2013 reduced by 0.4%. Prices of goods decreased by 0.4%, while prices of services rose by 0.3%. The annual average rate of change in April 2013 was 1.2%.
According to Statistics Estonia, the change of the consumer price index was -0.1% in April 2013 compared to March and 3.1% compared to April of the previous year.
Core inflation in the first half of the year 2013 will be low, but in the latter part of the year and in 2014 it could return to the normal growth of about 2.5%, according to Latvia's Convergence Program for 2013-2016 prepared by the Finance Ministry, reports LETA/Nozare.lv.
Data released this week show that Latvia is successfully implementing the Maastricht criteria so that it could join the eurozone next year, Swedbank chief economic expert Lija Strasuna told the business information portal Nozare.lv.
Annual inflation in Latvia in March 2013, 0.3%, was the lowest in the European Union, according to the latest data from the EU statistical office Eurostat. Inflation in Estonia made 3.8% and in Lithuania 1.6%.