Estonia Inflation


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.

FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 0.6% in 2015, which is unchanged from last month’s forecast. In 2016, the panel expects average inflation to accelerate to 1.9%.

Author:, Economist

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Estonia Inflation Chart

Estonia Inflation July 2015

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

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