Estonia Inflation September 2022


Estonia: Harmonized inflation moderates in September

October 7, 2022

Harmonized inflation came in at 24.1% in September, down from August’s 25.2%. Looking at the details of the release, housing and utilities prices grew at a weaker pace. In contrast, prices for transportation, as well as for food and non-alcoholic beverages, increased at a faster rate in September.

Annual average harmonized inflation rose to 16.7% in September (August: 15.2%). Meanwhile, consumer price inflation fell to 23.7% in September, from August’s 24.8%.

Lastly, harmonized consumer prices rose 0.33% over the previous month in September, which was below August's 2.32% rise. September's result marked the weakest reading since January.

FocusEconomics panelists see harmonized inflation averaging 18.6% in 2022, which is up 0.8 percentage points from last month’s forecast, and 8.3% in 2023.


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Estonia Inflation Chart

Estonia Inflation September 2022 0

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistics Estonia and FocusEconomics calculations.

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