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.