Estonia: Annual consumer prices decline further in September
October 9, 2015
Consumer prices in September fell 0.6% over the previous month, which followed August’s 0.3% drop. September’s result was the fourth straight monthly decline and the weakest print since November of last year. According to Statistics Estonia, the result was influenced mostly by as steep drop in prices for education amid the implementation of a higher education reform, as well as lower prices for transport. In contrast, prices for clothing and footwear increased as the summer sale season concluded.
Consumer prices fell 0.7% in September compared to the same month of last year, which was down from August’s 0.3% decline and marked the lowest result in seven months. Meanwhile, HICP inflation ticked up from 0.1% in July to 0.2% in August (the most recent month for which data are available). Annual average HICP inflation tallied 0.1% in August for the sixth consecutive month.
Author: Robert Hill, Economist