Estonia Inflation August 2020


Estonia: Consumer prices fall year-on-year for fifth month running in August

September 7, 2020

Consumer prices increased 0.64% over the previous month in August, after they stagnated in July. The increase was primarily due to higher prices for housing and transport.

Consumer prices decreased 0.9% year-on-year in August, falling at the same rate as in July. Meanwhile, annual average inflation came in at 0.5% in August (July: 0.8%). Lastly, harmonized consumer prices fell 1.2% on an annual basis in August, after having dropped 1.3% in July.

FocusEconomics panelists project harmonized inflation to average 0.0% in 2020, which is down 0.3 percentage points from last month’s forecast. For 2021, they expect inflation to also average 1.5%.


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Estonia Inflation Chart

Estonia Inflation August 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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