Estonia Inflation


Inflation slows in March

In March, consumer prices added 0.7% over the previous month, which was slightly above the 0.6% increase observed in February. According to Statistics Estonia, the increase was mainly influenced by more expensive airplane tickets as well as higher prices for alcoholic beverages and tobacco. Despite the monthly increase, annual headline inflation edged down from 3.7% in February to 3.5% in March. Meanwhile, February's annual HICP inflation (based on the harmonized index of consumer prices), the latest month for which data are available, rose to 4.0% from 3.7% in January. Annual average HICP inflation remained unchanged at 4.1% in February. The Central Bank expects HICP inflation to average 3.6% in 2013 and 2.4% in 2014. FocusEconomics Consensus Forecast panellists expect harmonized inflation to average 3.2% this year, which is down 0.3 percentage points from last month's forecast. Next year, the panel expects average inflation to moderate to 2.9%.


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Estonia Inflation Chart

Estonia Inflation March 2013

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

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