Annual inflation in the European Union was 2.9 percent in July this year, down from a revised 3.1 percent in June, according to a report released by Eurostat, the Statistical Office of the European Communities. In July 2010, the annual inflation rate was registered as 2.1 percent. Meanwhile, monthly inflation was -0.5 percent in July this year.
In July, the lowest annual inflation rates were observed in Ireland with one percent, in Slovenia with 1.1 percent and in Sweden with 1.6 percent, while the highest were seen in Estonia with 5.3 percent, in Romania with 4.9 percent, and in Lithuania with 4.6 percent.
The lowest 12-month averages up to the end of June were registered in Ireland at 0.3 percent, in Sweden at 1.6 percent and in the Czech Republic and the Netherlands both at 1.9 percent, while the highest were recorded in Romania at 7.6 percent, in Estonia at 4.9 percent and in Greece at 4.3 percent.