Baltic nation tops Eurozone inflation chart ...News

Soaring energy prices drive Estonia’s inflation up to 20% Estonia’s annual inflation reached 20.1% in May, the highest rate in the euro area, according to the European Union’s statistics agency Eurostat. The April figure was 18.1%. Lithuania and Latvia had the second and third highest increases, at 18.5% and 16.4%, respectively. Estonia has been hit by the largest electricity price hike and one of the largest natural gas price hikes in the EU. Global energy prices, which had already spiked amid surging demand following the Covid-19 pandemic, have climbed even higher over disrupted oil and gas supplies from Russia.

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