Ireland shows annual deflation

Dec. 16, 2010 at 3:34 PM

BRUSSELS, Dec. 16 (UPI) -- The European Union's statistical office, Eurostat, said Thursday consumer prices are down 0.8 percent in Ireland from last year.

Ireland in November had the lowest rate of inflation in the European Union. Slovakia had the second lowest annual rate in the month with prices rising 1 percent.

In the Netherlands, inflation was 1.4 percent, the third lowest.

On the other side of coin, prices in the European Union rose the most in Romania, up 7.7 percent. Prices rose 5 percent in Estonia and 4.8 percent in Greece compared to a year ago.

Over the 27-member EU, prices rose 2.3 percent, while prices in the eurozone rose 1.9 percent.

In the first and second largest economies in the EU, prices rose, respectively, 1 percent in Germany and 1.6 percent in France.

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