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Thursday, August 7, 2008

Estonia Consumer Inflation Holds Steady In July

Estonia's annual inflation slowed slowed ever so slightly in July. The rate dropped to 11.1 percent, the fourth highest in the European Union, from 11.4 percent in June, according to the statistics office earlier today. Month on month consumer price rises accelerated slightly rising by 0.7 percent June when they were up 0.6% from May.

Not everything was going up, and clothing and footwear prices fell a monthly 2.9 percent in July leaving an annual increase of only 1.9 percent. Food prices, however, remained unchanged from the previous month, rising at an annual 16.8 percent.

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