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So far, it looks mysterious how real estate bubbles and inflation are (not) related. But the hot Baltic economies are experiencing swift inflation now.
Consumer prices soared in September throughout the Baltic region, surpassing analysts' expectations and sparking new fears of macroeconomic imbalances that could eventually lead to hard times.
In Latvia, the Baltic's inflationary champion, consumer prices rose 11.4 percent annually as of September, the highest level in 10 years. Inflation for the month reached 10.9 percent, the highest since January 1997, the statistics agency said.

In Estonia, annual inflation reached 7.2 percent, significantly beyond the estimates of some 6.3 - 6.5 percent and leading some analysts to believe that 8 percent was a real possibility for the entire calendar year.

Finally, in Lithuania, where inflation has been relatively tame in recent years, the consumer price index catapulted to 7.1 percent based on September data.

I am puzzled by the monthly 10.9% (?!) inflation in Latvia. The Lithuanian inflation for the month of September was 1.4%.

by das monde on Thu Oct 11th, 2007 at 04:14:08 AM EST

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