Inflation in the Baltics breaks records amid anti-Russian sanctions

Inflation in the Baltics breaks records amid anti-Russian sanctions

Latvia, Lithuania and Estonia topped the list of the EU countries with the highest inflation rates. This was stated by Sputnik, citing data from Eurostat.

“According to Eurostat, the record rate of inflation is in the Baltic States. In Estonia the annual rise in prices was the fastest, amounting to 22% in June (compared to 20.1% in May). Lithuania came second with 20.5 percent (18.5 percent in May) and Latvia with 19 percent (compared to 16.8 percent in May),” Sputnik wrote.

It is reported that annual inflation in the EU increased from 8.1 percent in May to 8.6 percent in June. This is a record-breaking figure for all time of statistics gathering. On the whole in the Eurozone, inflation hit the energy sector the hardest – 41.9% in June compared to May’s 39.1%.

Experts say the rapid growth of inflation in the Baltic states is a common trend among eurozone countries amid anti-Russian sanctions.

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