Estonia Inflation June 2022

Estonia

Estonia: Inflation comes in at highest level since July 1996 in June

July 7, 2022

Consumer prices rose 2.73% in June over the previous month, picking up from the 1.92% rise seen in May. The reading was driven by rising prices for transportation.

Inflation came in at 21.9% in June, which was up from May’s 20.0%. June's result was the highest inflation rate since July 1996. Meanwhile, the trend pointed up, with annual average inflation coming in at 12.1% in June (May: 10.5%). Lastly, harmonized inflation remained the highest in the euro zone, rising to 22.0% in June from the previous month's 20.2%.

FocusEconomics panelists see harmonized inflation averaging 12.3% in 2022, which is up 1.2 percentage points from last month’s forecast, and 4.1% in 2023.


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Estonia Inflation June 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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