Estonia Inflation


Estonia: Drop in annual consumer prices softens in November

December 10, 2015

Consumer prices in November dropped 0.3% over the previous month, which contrasted October’s 0.1% increase. According to Statistics Estonia, the drop was driven by lower prices for communications, housing, and non-alcoholic beverages and food.

Consumer prices fell 0.2% annually in November compared to the same month of last year, which was up from October’s 0.6% decline. HICP inflation, on the other hand, grew 0.5% in November (October: 0.0%). Annual average HICP inflation inched up to 0.1% in November from the flat reading reported in October.

FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 1.7% in 2016, which is unchanged from last month’s forecast. In 2017, the panel expects average inflation to accelerate to 2.4%.

Author: Jean-Philippe Pourcelot, Economist

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Estonia Inflation Chart

Estonia Inflation November 2015

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

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