According to the report by European Statistical Agency Eurostat, Latvia posted annual inflation of 4.8% in May 2011, which was the fourth highest inflation rate among EU member states. Latvia followed Romania (8.5%), Estonia (5.5%) and Lithuania (5%), while average EU annual inflation in the reporting month was 3.2%. Consumer prices increased by 5% y/y in May, according to a report by Central Statistical Bureau (as compared to 4% inflation seen in January and 4.5% in April). Main inflationary pressures in May came, again, from food and beverages (11.1% y/y inflation), transport including fuel (7.4%) and housing and utilities (7.6%). Prices of goods increased by 6.7% y/y, while services posted inflation of 0.4% y/y (after three consecutive months that deflation in services was seen). In May consumer prices went up by 0.4% m/m (1.1% m/m in April), while moving average 12 months inflation was 2.1%. To remind, central bank upped its inflation forecast for 2011 to 2.4%. CPI amounted to 11.4% in 2008, while 1.2% y/y deflation was posted in 2009. |
Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company ... more
Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more
Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and ... more