2008-03-07 18:01:43 -
TALLINN, Estonia (AP) - Inflation in Estonia climbed to 11.3 percent in February due to soaring prices for food, housing and fuel, Statistics Estonia said Friday.
Food and nonalcoholic beverages led the charge, surging 17.1 percent over the year, while housing-related expenses rose 15.2 percent, the statistics agency said.
Consumer prices have been rising for several months
in the Baltic state on a backdrop of robust economic growth and global inflationary trends.
Estonia currently has the third highest inflation in the 27-member EU _ after Latvia and Bulgaria _ has been forced to postpone plans to adopt the euro until 2012, if not later.
Analysts expect Estonia's inflation to begin declining as the economy begins to cool.
In 2006, the country's gross domestic product grew 11.2 percent; by the fourth quarter of 2007 it had fallen to 4.5 percent.
On the Net
Statistics Estonia:
www.stat.ee