Estonia Inflation December 2020


Estonia: Consumer prices decline annually for ninth consecutive month in December

January 8, 2021

Consumer prices ticked up 0.01% over the previous month in December, moderating from November’s 0.12% increase. December’s slowdown was primarily driven by a sharper fall in prices for food.

Consumer prices declined 0.8% year-on-year in December, easing from November’s 1.1% drop. Meanwhile, the annual average variation in consumer prices came in at minus 0.4%, down from November’s minus 0.2%. Lastly, harmonized consumer prices slipped 0.9% on an annual basis in December, after declining 1.2% in the prior month.

FocusEconomics panelists see harmonized inflation averaging 1.3% in 2021 and 2.1% in 2022.


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Estonia Inflation Chart

Estonia Inflation December 20 20

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

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