Estonia: Consumer prices fall further in July
August 7, 2015
Consumer prices in July fell 0.4% over the previous month, which exceeded June’s 0.2% decrease. According to Statistics Estonia, the result was influenced the most by summer sales of clothing and footwear.
Consumer prices fell 0.3% in July compared to the same month of last year, which was a starker deterioration than the 0.1% decrease tallied in June. Meanwhile, annual HICP inflation fell from a 0.5% increase in May to a 0.1% increase in June (the most recent month for which data are available). Annual average HICP inflation in June came in at 0.1% for the third consecutive month.
Author: Robert Hill, Economist