Estonia Leads in Eurozone Inflation

Estonia has once again topped the Eurozone rankings for inflation, according to Estonian media reports. Data from Eurostat confirms this.

In June, Estonia's annual inflation reached 5.2%, making it the second-highest in the European Union (after Romania) and the highest among Eurozone countries—those that officially use the euro as their currency. In May, inflation in Estonia stood at 4.5%, a figure that also placed the country ahead of all other Eurozone nations.

Price increases in Estonia significantly surpass the average European indicators. By way of comparison, the average inflation rate in the Eurozone in June was 2%, while across the entire European Union it was 2.3%. The inflation is attributed to rising costs for food products, services, as well as alcoholic beverages and tobacco products.