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Latvia’s annual inflation in July was one of the highest in Europe

Inflation indexes in Latvia and the UK both reached 2.6% in July, which is one of the highest indexes in the European Union, according to data published by Eurostat on Thursday, 17 August.

Inflation in July was only higher in Lithuania (+4.1%) and Estonia (+3.9%).

Inflation was registered in 26 EU member states in July. Deflation was registered in Ireland and Cyprus – consumer prices in those countries were 0.2% and 0.1% lower than a year ago.

Data also shows that the smallest inflation increase was registered in Bulgaria and Finland this year (+0.6% in both). Inflation in France was 0.8%. Greece’s and Romania’s inflation level was 0.9%.

Annual inflation in the EU was 1.5%. Eurozone’s consumer prices in July, as compared with the same month of 2016, grew 1.3%.

Compared with the June, consumer prices dropped 0.3% in EU and 0.5% in Eurozone.

In Latvia, like Belgium, consumer prices dropped 0.8% over the course of the month. The highest deflation was registered in Luxembourg (-0.9%), Greece and Spain (-1.2%) and Italy (-1.9%). In Lithuania, like Poland, consumer prices declined 0.2% in July. Estonia’s decline was 0.8%.

In total, consumer prices declined in 14 EU member states in June. 12 member states experienced inflation. Prices remained unchanged in Cyprus and Romania. The highest consumer price increase was recorded in Denmark (+1%).


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