Estonia: Inflation eases in June
Latest reading: Harmonized consumer prices were up 2.0% in annual terms in June, following a 3.6% increase in the prior month. June’s reading was the weakest since April 2021 and matched the ECB’s 2.0% target.
Relative to the prior month’s figures, there were reduced price pressures for food and non-alcoholic beverages (-1.5% in annual terms vs +0.9% in May), transportation (+7.3% vs +9.4% in May), recreation (-0.8% vs +3.8% in May) and restaurants and hotels (-2.3% vs +3.1% in May). In contrast, price pressures were higher for housing and utilities in June (+7.3% vs +5.2% in May).
Meanwhile, consumer prices rose 2.3% on a year-on-year basis in June, following a 3.7% increase in the prior month.
Lastly, harmonized consumer prices declined 0.39% in June on a month-on-month basis, following a 0.50% rise in the prior month.