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Data from Statistics Estonia show that inflation in Estonia slowed somewhat in March, from 3.7% to 3.5%. Leaving aside the price growth of electricity, the 2.3% increase in the price of other goods and services was relatively modest. One reason behind the slowdown in inflation was the last year’s high reference base for oil prices. As a result, the cost of fuels cheapened by 3.6%. The same factor affected inflation in other euro area countries as well, so Eurostat’s preliminary estimate is that inflation in the euro area slowed to 1.7% in March.