In June, Latvia recorded higher annual inflation than the average across the European Union (EU) and the euro area, according to data published Thursday by the EU statistical office Eurostat.
Annual inflation in Latvia reached 3.9% in June. The lowest inflation rates last month were registered in Cyprus (0.5%), France (0.9%), Ireland (1.6%), as well as Denmark and Italy (1.8% in both).
The highest annual inflation was observed in Romania (5.8%), Estonia (5.2%), Hungary and Slovakia (4.6% each), and Croatia (4.4%). Lithuania and Austria both recorded an annual inflation rate of 3.2%.
Consumer prices rose year-on-year in all EU member states in June.
The average annual inflation in the EU stood at 2.3%, while in the eurozone, it was 2%.
Compared to the previous month – May – consumer prices in June rose by 0.3% in both the EU and the eurozone.
In Latvia, consumer prices increased by 0.2% compared to May, the same month-on-month rate as in the Czech Republic, Italy, Lithuania, and Hungary. Monthly inflation was recorded in 25 EU countries. The highest was in Greece (+1.3%), while monthly deflation was registered in Finland (-0.2%), and prices remained unchanged in the Netherlands. In Estonia, consumer prices rose by 1.1%.
Eurostat calculates inflation based on the EU Harmonised Index of Consumer Prices (HICP).
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