Inflation in Latvia – the highest in EU

Annual inflation in Latvia in June 2008 decreased 0.2%, reaching 17.5%, and it remains the highest in the European Union (EU), according to the EU statistical office Eurostat data released today.

According to the Latvian Central Statistical Bureau's data, calculated using a different methodology, annual inflation in June was 17.7% in Latvia.

For three 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 has drawn nearer to Latvia, with 14.7% inflation in June, according to Eurostat data.

The inflation level has grown also in Lithuania and Estonia, reaching 12.7% and 11.5% respectively in June. On the list of countries with the highest inflation figures, Romania follows with 8.7%, Slovenia – with 6.8%, Czech Republic – with 6.6%, and Hungary – with 6.6%. The lowest inflation rates were registered in the Netherlands – 2.3%, Portugal – 3.4% and Germany – 3.4%.