A third of European countries reeling under high inflation, warns a British

London: European countries Estonia, Lithuania, Bulgaria, Czech Republic, Romania, Latvia, Poland and Slovakia are currently reeling under high inflation. A leading British daily reported that the inflation index in these countries has crossed 10%. Therefore, analysts are claiming that there is a decline in European productivity.

The British daily claimed that the highest inflation is reported in the Baltic countries among these. The highest is Estonia at 19%. The inflation rate has reached 16.8% and 14.4% in the Baltic countries Lithuania and Bulgaria, respectively.

The British daily informed that the inflation index in the Czech Republic, Romania, Latvia, Poland and Slovakia from east Europe is between 11% and 15%. The daily expressed concerns that even during the 2008 recession, the inflation index in the Greek economy, which was in complete shambles, did not cross 10.2%.

Inflation in Turkey, a member of NATO and a candidate for inclusion in the European Union, has crossed 70%. It is claimed that the Russia-Ukraine conflict is partially responsible for the high inflation rates in these European countries. It has been exposed that the countries dependent on Russia for fuels have been the worst hit due to the conflict.

Lithuania was almost entirely dependent on Russian fuels. Therefore, the Lithuanian fuel imports were severely affected after starting the conflict. The British daily pointed out that countries like Slovakia and Greece, importing 50% of their fuel requirement from Russia, have also been trapped in the clutches of inflation.

The conflict in Ukraine has affected the electricity, wheat, legumes and even the construction sector along with the fuels. Analysts claim that the inflation in these sectors increases the intensity of the economic crisis in the European countries.