Estonia's base inflation inches up to 2.1 pct in May

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The annual base inflation in Estonia calculated on the basis of the harmonized index of consumer prices (HICP) accelerated to 2.1 percent in May, data collected by Statistics Estonia and released by Eurostat show.

In April Estonia's base inflation was 2.0 percent, in March 2.1 percent, in February 1.8 percent and in January 1.6 percent, the lowest figure in the last two years.

Annual base inflation in Latvia remained negative in May at minus 0.5 percent. Latvia's base inflation re-entered negative territory at minus 0.7 percent in April after a positive reading of 0.1 percent in March.

In Lithuania base inflation in May was 1.8 percent, compared with 1.7 percent in both April and March.

In the eurozone base inflation moved up to 1.2 percent in May from 1.0 percent in April. Across the EU27 base inflation was 1.3 percent, up by 0.2 percentage points from April.

Base inflation differs from changes in the consumer price index or general price rise in that in its calculation the price changes in energy, food, alcohol and tobacco are not included. As a result, in the case of Estonia the most weighty external factors have been eliminated.

The overall price rise by the harmonized index of consumer prices was 3.6 percent in Estonia, 1.4 percent in the eurozone and 1.6 percent across the EU last month.