Analytics, Economics, EU – Baltic States, Inflation
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Friday, 26.04.2024, 04:54
Estonia's deflation among steepest in euro area in August
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Estonia's deflation at 1.2% was among the steepest in the euro area, only exceeded by that in Greece and Cyprus, where the figure stood at 2.1% and 2.9%, respectively.
The fastest inflation rates were registered in Slovakia and Lithuania, 1.5% and 1.2%, respectively, according to the flash estimate.
Looking at the main components of euro area inflation, food, alcohol and tobacco is expected to have the highest annual rate in August, 1.7%, compared with 2% in July, followed by services, 0.7%, compared with 0.9% in July.
The inflation rate of non-energy industrial goods is expected to be -0.1%, compared with 1.6% in July, and energy -7.8%, compared with -8.4% in July.
The primary objective of the European Central Bank's monetary policy is to maintain inflation rates below but close to 2% over the medium term.
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