Estonia Inflation June 2016

Estonia

Estonia: Decline in consumer prices eases in June

July 7, 2016

Consumer prices rose 0.3% over the previous month in June, according to the data released by Statistics Estonia (SE). The result was above the 0.1% increase recorded in May. The increase in consumer prices was mainly driven by higher prices for transport as well as hotels and restaurants.

Annual consumer prices dropped 0.4%, marking an improvement on May’s 0.9% fall. HICP inflation was 0.4% in June, above the flat reading recorded in May. Meanwhile, average HICP inflation came in at 0.1% in June, which is in line with May’s print.

The Central Bank forecasts harmonized inflation averaging 0.6% in 2016 and 2.9% in 2017. FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 0.5% in 2016, which is down 0.1 percentage points from last month’s forecast. In 2017, the panel expects average inflation to accelerate to 2.1%.


Author:, Economist

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Estonia Inflation June 2016 2

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


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