Estonia’s inflation decelerated to 21.4% in November

The euro area annual inflation is expected to be 10 per cent in November 2022, down from 10.6 per cent in October, according to a flash estimate from Eurostat, whereas in Estonia, the inflation is estimated to be 21.4 per cent, down from 22.5 per cent in October.

Estonia’s inflation rate followed Latvia’s indicator for November, which, according to preliminary data, remained unchanged on month at 21.7 per cent, which was also the highest inflation indicator of the month in the euro area. 

In Lithuania, the inflation slowed down a bit in November and was at the same level as in Estonia – 21.4 per cent, according to Eurostat, the official statistics agency of the European Union.

The Baltic countries were followed by Slovakia, where inflation accelerated from 14.5 per cent in October to 15.1 per cent in November. Of the eurozone member states for which Eurostat has data, inflation in November was the slowest at 6.6 per cent in Spain, followed by France at 7.1 per cent and Malta at 7.2 per cent.

Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in November at 34.9 per cent, compared with 41.5 per cent in October; followed by food, alcohol and tobacco at 13.6 per cent, compared with 13.1 percent in October; non-energy industrial goods at 6.1 per cent, stable compared with October; and services at 4.2 per cent, compared with 4.3 per cent in October.

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