Estonia Inflation October 2022

Estonia

Estonia: Harmonized inflation plunges to lowest level since June in October

November 7, 2022

Harmonized inflation came in at 22.5% in October, which was down from September’s 24.1%. October's result marked the lowest inflation rate since June. The decline was driven by moderating price pressures for transportation and housing and utilities.

Annual average harmonized inflation rose to 18.0% in October (September: 16.7%). Meanwhile, consumer price inflation fell to 22.5% in October, from the previous month's 23.7%.

Lastly, harmonized consumer prices dropped 1.56% from the previous month in October, contrasting September's 0.33% rise.

FocusEconomics panelists see harmonized inflation averaging 11.1% in 2023, which is up 2.8 percentage points from last month’s forecast, and 3.4% in 2024.


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Estonia Inflation October 2022

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


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