In July Romania’s annual inflation rate (4.9 per cent) was the second-highest in the European Union, the Eurostat data published yesterday shows. Estonia’s inflation rate was the highest (5.3 per cent), while the EU’s inflation rate stood at 2.9 per cent. Lithuania was third with an annual inflation rate of 4.6 per cent. The lowest inflation rates were reported in Ireland (1 per cent), Slovenia (1.1 per cent) and Sweden (1.6 per cent). Romania was first in the EU when it comes to the average growth of the inflation rate in the July 2010 – June 2011 interval compared to the previous 12 months – an indicator that determines price stability in the European Commission’s convergence reports toward the European Council. Thus, Romania topped the rankings with an inflation rate of 7.6 per cent, followed by Estonia (4.9 per cent) and Greece (4.3 per cent). In the Euro Zone the annual inflation dropped from 2.7 per cent in June to 2.5 per cent in July, while in the EU the annual inflation rate dropped from 3.1 per cent in June to 2.9 per cent in July.