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Estonia Inflation May 2024

Estonia: Harmonized inflation remains at lowest level since April 2021 in May

Harmonized inflation held steady at April’s 3.1% in May. May’s figure marked the joint-lowest inflation rate since April 2021. Looking at the details of the release, prices for food and non-alcoholic beverages rose at a faster rate in May. In contrast, prices for transportation grew at a slower rate.

Annual average harmonized inflation fell to 4.7% in May (April: 5.3%). Meanwhile, consumer price inflation ticked up to 2.9% in May from the previous month’s 2.8%.

Lastly, harmonized consumer prices were flat from the previous month in May, below the 1.02% rise seen in April. May’s result marked the weakest reading since December 2023.

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