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Latvia had fourth highest inflation among EU member states in May

Compared with the same month of last year, Latvia had the fourth highest inflation index among EU member states in this year’s May, according to data from Eurostat.

Last month, consumer prices in Latvia were 2.7% higher when compared with May last year. Inflation was only higher in Estonia (+3.5%), Lithuania (+3.2%) and the UK (+2.9%).
 

Inflation in May was registered in 27 EU member states. In Ireland, consumer prices remained on the same level as last year. The lowest inflation levels in May were registered in Romania (+0.5%), Denmark and Netherlands (+0.7% in both), as well as France, Cyprus and Finland (+0.9% in all three).
 

Inflation in the EU was 1.6% in May when compared with April. Consumer prices in Eurozone drew 1.4% (1.9% in April). In May 2016, consumer prices in the EU and Eurozone declined 0.1%.
 

When compared with April, consumer prices in May remained stable in the EU. In Eurozone, on the other hand, deflation of 0.1% was registered.
 

In Latvia – similar to Czech Republic, Romania and Hungary – consumer prices grew 0.2%. In Estonia – similar to the UK and Slovakia – inflation was 0.3%. Inflation was higher only in Slovenia (+0.7%) and Malta (1%). In Cyprus, consumer prices grew 0.1% in May.
 

In general, inflation was noted in ten EU member states in May. Consumer prices in Spain, France and Sweden remained on April’s level. Remaining 15 EU member states experienced monthly deflation. The highest consumer price decline in May was noted in Netherlands (-0.4%), Belgium and Portugal (-0.3%), as well as Lithuania, Bulgaria, Greece, Ireland, Finland and Germany (-0.2%).

BNN/LETA

19-06-2017
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