EE: Estonia's inflation of 3.8% y/y 3rd highest in EU.

By bne IntelliNews October 18, 2010
According to the report by European Statistical Agency Eurostat, Estonia posted an annual inflation of 3.8% in September, which made the 3rd highest inflation among EU members in the reporting month. Estonia was preceded only by Romania (7.7%) and Greece (5.7%). To remind, according to the report by Statistics Estonia, on average prices of goods and services in September 2010 were 4% higher than in September 2009. This made the highest monthly y/y inflation since January 2009. To remind, authorities were taken by surprise by 3% y/y and 3.5% y/y inflation seen in May and June, while CB and FinMin expected inflation to moderate as of August, when inflation indeed declined to 2.9% y/y.

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