Estonia Inflation December 2015


Estonia: Consumer prices drop in December

January 8, 2016

Consumer prices in December fell 0.7% of the previous month, which came in below November’s 0.3% decrease. According to Statistics Estonia, the fall was driven by lower prices for housing, transportation and clothing and footwear.

Consumer prices declined 0.9% compared to the same month of the previous year, which was down from November’s 0.2% fall and the lowest reading since January 2015. HICP inflation swung from a 0.5% increase in November to a 0.2% drop in December. Meanwhile, annual average HICP inflation remained steady in December at the 0.1% reading tallied in November.

The Central Bank sees harmonized inflation averaging 1.5% in 2016 and 3.1% in 2017. FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 1.6% in 2016, which is down 0.1 percentage points from last month’s forecast. In 2017, the panel expects average inflation to accelerate to 2.3%.

Author: Jean-Philippe Pourcelot, Economist

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Estonia Inflation Chart

Estonia Inflation December 2015 0

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

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