Estonia: Consumer prices record fifth consecutive annual drop in October
November 7, 2014
Consumer prices in October were flat over the previous month, which was up from the 0.2% fall observed in September. According to Statistics Estonia, the result reflects that higher prices for communications and alcoholic beverages and tobacco were offset by lower prices for hotels and restaurants as well as for housing.
Consumer prices recorded a 0.2% year-on-year decrease in October, which was up from the 0.6% decline tallied in September. However, the result marked the fifth consecutive drop. Meanwhile, annual harmonized prices—based on the harmonized index of consumer prices—swung from a 0.2% fall in August to a 0.2% rise in September (the last month for which data are available). Annual average HICP inflation fell from 1.2% in August to 1.0% in September.
Author: Carl Kelly, Economist