Analytics, EU – Baltic States, Inflation

According to the Latvian Central Statistical Bureau's data, calculated using a different methodology, annual inflation in November was 11.8% in Latvia.

For almost four years already, with brief interruptions, Latvia has been registering the highest inflation in the EU. Approximately a year ago, for a short period of time Hungary moved forth as the country with the highest inflation, but in the last few months Bulgaria and Lithuania have drawn nearer to Latvia, with 9.2 and 8.8% inflation in November respectively, according to Eurostat data.

On the list of countries with the highest inflation figures, Estonia follows with 8.5%, Romania – with 6.8%, Malta – with 4.9%, the United Kingdom, Hungary and the Czech Republic – with 4.1%.

On the other hand, the lowest inflation figure was registered in Germany and Portugal – 1.4%, France and the Netherlands – 1.9% and Luxembourg – 2%.

Compared to October, annual inflation decreased in all of the EU countries.

Average annual inflation in all the 27 EU member states was 2.8% in November, compared to 3.7% in October. A year ago, average annual inflation in the EU was 3.1%. The annual inflation in euro-zone was 2.1% in November, comparing with 3.2% in October. A year ago, average annual inflation in Euro-zone was 3.1%.

In euro-zone, the main components with the highest annual rates in November 2008 were housing, for which the prices surged 4. 5%, food with 3.7% and alcohol and tobacco products with 3.5 increase of prices. On the other hand, the prices dropped for communications, down 2.1% and transport, with prices down by 0.6%.