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Estonia Inflation April 2024

Estonia: Harmonized inflation falls to lowest level in three years in April

Harmonized inflation fell to 3.1% in April, which was down from March’s 4.1%. The reading represented the lowest inflation rate since April 2021. The deceleration was primarily due to softer price increases for alcohol and tobacco, clothing and footwear, and recreation and leisure. Additionally, housing costs swung into contraction. However, April saw increasing prices for food and non-alcoholic beverages. In addition, price pressures for transportation rose at a stronger rate.

Annual average harmonized inflation fell to 5.3% in April (March: 6.1%). Meanwhile, consumer price inflation fell to 2.8% in April, from the previous month’s 3.9%.

Finally, harmonized consumer prices increased 1.02% in April over the previous month, picking up from the 0.44% increase logged in March.

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