Annual inflation in the Baltics peaked since the 2008 crisis

December 20, MINSK,. Annual inflation in the Baltic countries has reached peaks not seen since the international financial crisis more than 10 years ago, reports the Estonian broadcaster ERR.

In November, annual inflation in Lithuania was the highest among the three Baltic countries and reached 9.2%. In Latvia, consumer prices in annual terms rose by 7.5%, in Estonia - by 8.8%, according to data from national statistical services.

In general, in the eurozone, consumer prices in November 2021 increased by 4.9% compared to the same month in 2020, according to Eurostat data. This is the highest figure since July 1991. In October, annual inflation in the euro area was 4.1%. The data for November coincided both with the preliminary estimate and with the expectations of experts.

Consumer prices, excluding volatile factors such as the cost of energy, food and ALCOHOL, rose 2.6% year-on-year last month after rising 2% a month earlier.

Food, alcohol and tobacco prices rose 2.2% after rising 1.9% in October. Growth in energy prices accelerated to 27.5% after rising 23.7% a month earlier. Services became more expensive by 2.7%.

The lowest inflation in annual terms in November was observed in Malta (2.4%), Portugal (2.6%) and France (3.4%). In Germany, annual inflation accelerated to 6% from 4.6% in October, in France - to 3.4% from 3.2%, in Italy - to 3.9% after 3.2%, in Spain - to 5. 5% from 5.4% a month earlier.