Estonia Inflation March 2016


Estonia: Annual consumer prices record softer fall in March

April 7, 2016

Consumer prices in March rose 0.8% over the previous month, which came in slightly above February’s 0.7% increase. The result is the highest reading since March 2012. According to Statistics Estonia, the acceleration was mainly driven by higher prices for transport as well as for food and non-alcoholic beverages.

Annual consumer prices declined 0.2%, which was above February’s 0.5% drop. HICP inflation inched up from 0.4% in February to 0.5% in March. Meanwhile, average HICP inflation came in at 0.2% in March, matching February’s reading.

The Central Bank forecasts harmonized inflation averaging 1.5% in 2016 and 3.1% in 2017. FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 1.0% in 2016, which is down 0.2 percentage points from last month’s forecast. In 2017, the panel expects average inflation to accelerate to 2.1%.

Author:, Economist

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Estonia Inflation Chart

Estonia Inflation March 2016

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

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