Estonia: Consumer prices decline again in February
March 6, 2015
Consumer prices increased 0.6% over the previous month in February, which contrasted the 0.4% drop tallied in January and marked a nearly-two-year high. According to Statistics Estonia, the result mainly reflected increases in alcoholic beverages, clothing and transport. Conversely, prices for housing and for recreation and culture recorded lower prices compared to the previous month.
Consumer prices decreased 0.8% compared to the same month last year in February, which was a less pronounced decline than the 1.3% drop tallied in the previous month. Meanwhile, annual HICP inflation swung from a 0.1% rise in December to a 0.5% fall in January (the last month for which data are available). As a result of the marked drop in prices, annual average HICP inflation ticked down from December’s 0.5% to 0.3% in January.
Author: Cecilia Simkievich, Economist