Estonia Inflation


Estonia: Annual consumer prices rise for the first time since May

November 6, 2015

Consumer prices in October rose 0.1% over the previous month, which contrasted September’s 0.6% drop. October’s result was the highest in five months and also marks the first increase since May. According to Statistics Estonia, the increase was driven by higher prices for clothing and footwear, transportation, and communications. On the other hand, prices for healthcare, hotels and restaurants as well as alcoholic beverages and tobacco reported the biggest drops in October.

Consumer prices fell 0.6% annually in October compared to the same month of last year, which was slightly up from September’s 0.7% decline. Meanwhile, HICP inflation swung from a 0.2% expansion in August to 0.3% contraction in August (the most recent month for which data is available). Annual average HICP inflation remained constant in September at August’s 0.1% reading.

FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 0.1% in 2015, which is down 0.1 percentage points from last month’s forecast. In 2016, the panel expects average inflation to accelerate to 1.8%, which is up 0.1 percentage points from the forecast last month.

Author: Jean-Philippe Pourcelot, Economist

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Estonia Inflation Chart

Estonia Inflation October 2015

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

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