UK still has joint highest inflation in EU

Inflation in Britain is the joint highest in the EU, according to a relase out today from the statistics office of the European Union.

Inflation in Britain is the joint highest in the EU, according to a relase out today from the statistics office of the European Union.

While inflation was down across the Euro area as a whole by 0.7 per cent in October 2013 compared to September, Britain and Estonia came on top of the countries with the highest levels of inflation.

Funnily enough, Estonia is also the poster child of austerity hawks for introducing an even tougher round of cuts than the coalition in Britain has dared.

The lowest annual rates were in Greece (-1.9 per cent), Bulgaria (-1.1 per cent) and Cyprus (-0.5 per cent); the highest was recorded in Estonia and the United Kingdom (2.2 per cent) and Finland (1.7 per cent).
Considering the recent energy price hikes in Britain, interestingly energy costs in the Euro area were down by 1.7 per cent for October compared to September.
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