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Estonia’s year-on-year inflation hits a whopping 22%

Estonia’s year-on-year inflation hit a whopping 21.9 per cent in June 2022, in response to Statistics Estonia, the nation’s official statistics company; items had been 17.9% and providers 29.7% dearer than in June final 12 months.

Estonia’s inflation fee was the very best within the eurozone the place the typical was 8.6 per cent.

Viktoria Trasanov, a number one analyst at Statistics Estonia, mentioned that, in contrast with June 2021, the patron worth index was affected essentially the most by housing-related worth adjustments, which contributed over 40% of the entire rise within the index.

“Electricity that reached houses was 129.6%, warmth power 62.7%, pipeline fuel 228.3% and strong fuels 77.3% dearer. The worth adjustments of transport and meals and non-alcoholic drinks each accounted for a fifth of the entire improve of the index. Petrol was 51.1% and diesel gas 67.3% dearer,” Trasanov mentioned in an announcement.

Among meals merchandise, the largest improve in contrast with June 2021 was recorded within the costs of potatoes (111.5%), eggs (61.9%), recent fish (57.6%), flour and cereals (54.8%) and spices (53.4%).

Compared with May, the largest impression on the patron worth index additionally got here from the fuel-related worth will increase. Gas was 9.9% and diesel gas 8.4% dearer. The electrical energy that reached houses was 11.3% and strong fuels 6% dearer. The worth improve of meals and non-alcoholic drinks accounted for practically a fifth of the entire improve.

According to Eurostat, the European Union’s official statistics company, all of the Baltic states had the very best inflation charges within the eurozone – Lithuania 20.5% and Latvia 19%.

The lowest charges had been recorded in Malta at 6.1% and France at 6.5%.

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