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Estonia Inflation January 2023

Estonia: Harmonized inflation comes in at highest level since November 2022 in January

Harmonized inflation rose to 18.6% in January, above December’s 17.5%. January’s figure was the highest inflation rate since November 2022. Looking at the details of the release, housing and utilities prices rose at a quicker pace in January compared to the previous month, while price pressures for transportation eased.

In turn, the trend pointed up, with annual average harmonized inflation coming in at 20.0% in January (December: 19.4%). Meanwhile, consumer price inflation rose to 18.6% in January, from the previous month’s 17.6%.

Finally, harmonized consumer prices rose 0.60% in January over the previous month, contrasting the 0.13% fall recorded in December.

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