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Eurostat: Latvia fulfilling Maastricht inflation criteria 16.10.2012

Latvia is fulfilling the Maastricht inflation criteria in September, according to European Union's statistical bureau 'Eurostat.

Latvia has set out the goal of joining the euro-zone in 2014. In order for Latvia join the European single currency, it must implement several criteria called the Maastricht criteria. One of the criteria, according to the Maastricht Treaty, states that no country will be allowed to adopt the euro if its inflation is more than 1.5 percentage points higher than the average of the three "best" performing member states of the European Union.

As reported, annual inflation in Latvia was at 1.9 percent this past September, the third lowest across the European Union, according to the latest data from Eurostat.

The lowest annual inflation was recorded in Greece - 0.3 percent, and Sweden - one percent.

Hungary had the highest annual inflation in September - 6.4 percent, followed by Romania - 5.4 percent, and Estonia - 4.1 percent.

Lithuania's annual inflation was at 3.3 percent in September.

Annual inflation in the EU was 2.7 percent in September.

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