Estonia: Harmonized inflation declines to lowest level since March 2022 in March
Harmonized inflation came in at 15.6% in March, which was down from February’s 17.8%. March’s result marked the lowest inflation rate since March 2022. Looking at the details of the release, prices for food and non-alcoholic beverages increased at a weaker rate in March. In addition, prices for transportation dropped after growing in the previous month. This outweighed stronger price pressures for recreation and restaurants and hotels.
The trend was unchanged, with annual average harmonized inflation coming in at February’s 20.5% in March. Meanwhile, consumer price inflation fell to 15.3% in March, from February’s 17.6%.
Lastly, harmonized consumer prices rose 0.72% in March over the previous month, accelerating from February’s 0.68% increase.