Estonia: Inflation comes in at highest level since November 2008 in October
November 5, 2021
Consumer prices fell 0.15% in October over the previous month, contrasting September's 1.22% increase. October's result marked the sharpest fall in prices since March. Looking at the details of the release, prices for food and non-alcoholic beverages fell at a sharper rate in October, while prices for housing and utilities slumped in the month. Contrastingly, prices for transportation increased at a faster pace.
Inflation increased to 7.0% in October from September’s 6.6%. October's reading represented the highest inflation rate since November 2008. Annual average inflation rose to 2.7% in October (September: 2.0%). Finally, harmonized inflation rose to 7.4% in October, from the previous month's 6.4%.