Romania posts the highest 12-month average inflation in the EU

Newsroom 17/08/2011 | 14:15

According to official data from Eurostat, EU annual inflation was 1.9 percent in July 2011, down from 3.1 percent in June. A year earlier the rate was 2.1 percent.

In July 2011, Romania was second with an inflation rate of 4.9 percent. Estonia posted the highest inflation rate in the EU of 5.3 percent, while Lithuania was third with an inflation rate of 4.6 percent.

Romania posted the highest 12-month average inflation rate of 7.6 percent in the EU. Estonia and Greece, both in the euro area, follow with a rate of 4.9 percent, respectively 4.3 percent. The lowest average inflation rates were recorded in Ireland – 0.3 percent, Sweden – 1.6 percent and The Czech Republic and the Netherlands, each with 1.9 percent.

The Romanian central bank expects the annual inflation rate to slow down to 4.6 percent at the end of 2011. For 2012, the average rate should be 3.5 percent according to estimates from the central bank.

Ovidiu Posirca