Estonia Inflation


Inflation continues to ease in May

In May, consumer prices declined 0.1% over the previous month, which contrasted the 0.3% increase observed in April. According to Statistics Estonia, the fall was mainly influenced by declining prices of motor fuel. As a result, annual headline inflation decreased from 4.0% in April to 3.8% in May, the lowest level since December 2011. Annual HICP inflation (based on the harmonized index of consumer prices) fell from 4.7% in March to 4.3% in April, the latest month for which data are available. Annual average HICP inflation inched down from 4.9% in March to 4.8% in April. The Central Bank expects HICP inflation to average 2.8% this year and 2.9% in 2013.


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Estonia Inflation Chart

Estonia Inflation May 2012

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

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