Romania ranked second in the European Union (EU) on annual inflation rate in July this year, with 3.4 percent, according to EU’s statistics office Eurostat.

The highest annual rate was recorded in Estonia - 3.9 percent, while the lowest annual inflation rates were observed in Greece - minus 0.5 percent, Bulgaria - 0 percent and Denmark - 0.4 percent. In the EU, the annual inflation was 1.7 percent in July 2013, stable compared with the previous month.

The highest 12-month average rates up to July 2013 were registered in Romania - 4.5 percent, followed by Estonia - 3.9 percent and Croatia - 3.7 percent, while the lowest rates were recorded in Greece - 0.1 percent and Sweden - 0.7 percent.

Find the entire Eurostat report here.

According to the Romania’s National Statistics Office INS recent data, consumer prices in Romania fell by 0.34 percent in July this year over the previous month, as prices of food decreased by 1.6 percent. The annual inflation rate went down to 4.41 percent.

Irina Popescu, irina.popescu@romania-insider.com