---
title: "Estonia’s inflation still more than twice the eurozone average"
id: "70890"
type: "post"
slug: "estonias-inflation-still-more-than-twice-the-eurozone-average"
published_at: "2023-04-25T23:20:00+00:00"
modified_at: "2023-04-26T14:21:25+00:00"
url: "https://estonianworld.com/business/estonias-inflation-still-more-than-twice-the-eurozone-average/"
markdown_url: "https://estonianworld.com/business/estonias-inflation-still-more-than-twice-the-eurozone-average.md"
excerpt: "Even though Estonia’s year-on-year inflation has slowed down, the 15.6% inflation rate in March 2023 was still more than twice the eurozone average – 6.9%. […]"
taxonomy_category:
  - "Business"
publisher: "Estonian World"
language: "en-GB"
author: "Sten Hankewitz"
author_url: "https://estonianworld.com/author/stenhankewitz/"
---

# Estonia’s inflation still more than twice the eurozone average

![Euro coins painted in the Estonian tricolour. Picture by Shutterstock.](https://estonianworld.com/wp-content/uploads/2017/12/Estonia-inflation-shutterstock_688365538.jpg)

Euro coins painted in the Estonian tricolour. Picture by Shutterstock.

By  [Sten Hankewitz](https://estonianworld.com/author/stenhankewitz/)
  ·  April 26, 2023  · [Business](https://estonianworld.com/category/business/)
 · 1 minute of reading

### Even though Estonia’s year-on-year inflation has slowed down, the 15.6% inflation rate in March 2023 was still more than twice the eurozone average – 6.9%.

Estonia’s inflation rate, according to Eurostat, the European Union’s official statistics agency, slowed down compared with February when it was 17.8%. However, with its current 15.6% inflation rate is still the fourth highest in the EU.

In March 2022, Estonia’s year-on-year inflation rate was 14.8%.

The inflation rate in the eurozone was 6.9% in March 2023, down from 8.5% in February. The annual inflation rate in the entire European Union was 8.3% in March, down from 9.9% in February.

The highest inflation in the EU occurred in Hungary (25.6%) and Latvia (17.2%). Latvia is a member of the eurozone while Hungary is using its own currency, the forint.

The lowest inflation rate in the European Union in March 2023 was in Luxembourg (2.9%), Spain (3.1%) and the Netherlands (4.5%)

## About The Author

![Avatar photo](https://estonianworld.com/wp-content/uploads/local-avatars/15/1707599474-bpfull-100x100.jpg)

[Sten Hankewitz](https://estonianworld.com/author/stenhankewitz/)
Sten Hankewitz is a lifelong journalist and the Executive Editor at Estonian World. Having lived in Estonia, Spain, the UK and all around the US, he now resides in the White Mountains of New Hampshire. He loves to write and besides working at Estonian World, he [writes books](https://estonianworld.com/culture/the-grand-illusion-estonian-worlds-sten-hankewitz-publishes-a-novel-about-growing-up-in-the-soviet-union/)
 and contributes to other outlets. He has strong convictions and shows them unashamedly. You can follow Sten on [Threads](https://www.threads.net/@stenhankewitz)
, [X](https://twitter.com/stenhankewitz)
 and [Facebook](https://www.facebook.com/shankewitz/)
. You can also [email him](mailto:sten@estonianworld.com)
.