Estonia: Inflation ticks up in May
In May, consumer prices increased 0.3% over the previous month, down from April’s 0.4% print. According to data released by Statistics Estonia, the result was primarily driven by a rise in prices for food and non-alcoholic beverages, clothing and footwear, hotels and cafes, and education. These increases were partially offset, however, by lower prices for communications, recreation and culture, and housing.
Meanwhile, inflation accelerated to 3.0% in May, a notch above the previous month’s 2.9% print. Annual average inflation remained unchanged for the fourth consecutive month at 3.4%.
HICP inflation rose to 3.1% in May, up from the previous month’s 2.9%. Meanwhile, annual average HICP inflation remained stable at 3.6% in May, unchanged from April.