Estonia's inflation rate at 17.5% in December was the third highest in eurozone, but has lately showed some signs of falling. Latvia had the highest rate of inflation last month at 20.7 percent, followed by Lithuania (20%) and Estonia (17.5%). The Eurozone average was 9.6 percent, as reported by the Eurostat.

All three Baltic countries have persistently had the highest inflation rates since last spring.

Estonia's inflation peaked at 25.2% in August and has been slowly declining since every month.

Main contributors to inflation include energy, food, alcohol and tobacco prices.

Spain's inflation rate was the lowest at 5.6 percent, followed by Luxembourg (6.2%) and France (6.7%).

The European Central Bank has already raised base interest rate four times since July, leading to an increase of 2.5 percent. More rate hikes are expected this year to eventually reduce the inflation to a target of 2 percent.

Eestlased Eestis

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