The annual inflation rate in Romania was the second highest in the EU during October, according to figures published today (November 15 ) by the European statistics office Eurostat. At 5 percent, the rate in Romania was second only to Hungary, with 6 percent, and was around double the figures for the eurozone (2.5 percent) and the EU as a whole (2.6 percent).

Inflation was also high in Estonia, in third place with a rate of 4.2 percent. In the cases of Hungary and Estonia, the average inflation over the last 12 months has also been high, 5.5 percent and 4.3 percent reflectively. However, Romania has seen the inflation rate spiking in the last three months against average inflation between October 2011 and October 2012 of 3.6 percent.

Compared with September this year, the inflation rate during October fell in 13 EU countries, remained stable in four and rose in ten. The lowest annual rates seen during October this year were in Greece (0.9 percent), Sweden (1.2 percent) and Latvia (1.6 percent).

editor@romania-insider.com