Estonia: Decline in consumer prices intensifies in May
June 16, 2016
Consumer prices in May rose 0.1% over the previous month, according to the data released by Statistics Estonia (SE). The result was slightly higher than the flat reading recorded in April. The increase in consumer prices was mainly driven by higher prices for hotels and restaurants.
Annual consumer prices dropped 0.9%, marking a decrease compared to April’s 0.7% fall and representing the lowest reading since January 2015. HICP inflation was zero in May, the same reading recorded in April. Meanwhile, average HICP inflation came in at 0.1% in May, which marked a slight decrease compared to April’s 0.2%.
Author: Andrea Vetrugno, Economist