LV: Latvian inflation of 4.7% y/y 4th highest in EU in June-Eurostat.

By bne IntelliNews July 18, 2011
According to the report by European Statistical Agency Eurostat, Latvia posted annual inflation of 4.7% in June 2011, which was the fourth highest inflation rate among EU member states. Latvia followed Romania (8%), Estonia (4.9%) and Lithuania (4.8%), while average EU annual inflation in the reporting month was 3.1%. Consumer price index (CPI) inflation stood at 4.8% y/y in June, Statistics Latvia announced. In m/m terms in June CPI inflation reached 0.3% m/m. Average 12 month inflation stood at 2.6% y/y. In June in m/m terms prices of goods increased by 0.3% m/m, while prices of services grew by 0.2% m/m, in y/y terms goods prices grew by 6.4% y/y, and 0.5% y/y for services respectively. In June the increase was mainly due to 10.6% y/y increase in food prices, 8.3% y/y increase in price of transport, 6.0% y/y increase in housing and utilities prices, and 5.4% y/y increase in price of clothing and footwear.

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