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Estonia Inflation December 2022

Estonia: Harmonized inflation drops to lowest level since March in December

Harmonized inflation eased to 17.5% in December below Novembers 21.4%. December’s result marked the weakest inflation rate since March and the lowest figure in the Baltic region. The result was driven by moderating price pressures for housing and utilities—which more than halved from December 2021—and for transport. In contrast, food prices continued to climb at a steeper pace.

In contrast, the trend pointed up, with annual average harmonized inflation coming in at 19.4% in December (November: 19.0%). Meanwhile, consumer price inflation fell to 17.6% in December, from Novembers 21.3%.

Lastly, harmonized consumer prices dropped 0.13% in December over the previous month, swinging from November’s 0.89% increase.

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