Estonia Inflation June 2020

Estonia

Estonia: Consumer prices fall on an annual basis in June

July 13, 2020

Consumer prices rose 0.91% from the previous month in June, contrasting May's 0.67% drop. June's figure was the sharpest increase in prices since April 2019. The reading was driven by rising prices for food and non-alcoholic beverages, and transportation.

Meanwhile, on an annual basis, consumer prices fell 1.0% in June, a more moderate fall than May’s 1.7% drop. Annual average inflation ticked down to 1.1% in June (May: 1.3%). Lastly, harmonized consumer prices fell 1.6% in June, softening from May's 1.8% dive.

FocusEconomics panelists project harmonized inflation to average 0.5% in 2020, which is down 0.1 percentage points from last month’s forecast. For 2021, they expect inflation to also average 1.8%.


Author:, Economist

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Estonia Inflation June 20 20 0

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


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