Estonia Inflation


Consumer prices record fifth consecutive annual drop in October

Consumer prices in November fell 0.8% over the previous month, which was well below the flat reading observed in October and marked the lowest reading on record. According to Statistics Estonia, the result reflects lower prices in several categories, including a substantial drop in the price for transport amid declining fuel costs.

Consumer prices recorded a 0.6% year-on-year decrease in November, which was down from the 0.2% decline tallied in October. Moreover, the result marked the sixth consecutive annual decline. Meanwhile, annual HICP—based on the harmonized index of consumer prices—increased from 0.2% in September to 0.5% in October (the last month for which data are available). Annual average HICP inflation fell from 1.0% in September to 0.8% in October.

The Central Bank expects HICP inflation of 1.3% in 2014 and of 2.4% in 2015. FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 0.4% in 2014, which is unchanged from last month’s forecast. In 2015, the panel expects average inflation to accelerate to 1.6%, which is down 0.2 percentage points from last month’s projection.

Author:, Economist

Sample Report

Looking for forecasts related to Inflation in Estonia? Download a sample report now.


Estonia Inflation Chart

Estonia Inflation November 2014

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistics Estonia

Estonia Economic News

More news

Search form