Estonia: Harmonized inflation falls to over one-year low in May
Harmonized inflation came in at 11.2% in May, which was down from April’s 13.2%. May’s result represented the lowest inflation rate since January 2022. The moderation was broad-based, with reduced price pressures recorded for food and non-alcoholic beverages, transportation, and housing and utilities. Moreover, prices for recreation grew at a more subdued pace.
Annual average harmonized inflation fell to 19.1% in May (April: 20.0%). Meanwhile, consumer price inflation fell to 11.3% in May, from April’s 13.5%.
Finally, harmonized consumer prices increased 0.03% from the previous month in May, a smaller increase than the 1.93% increase seen in April. May’s result marked the weakest reading since December 2022.