Estonia Inflation March 2022

Estonia

Estonia: Inflation comes in at highest level since November 1996 in March

April 7, 2022

Consumer prices rose 2.67% from the previous month in March, picking up from the 1.45% increase logged in February. Looking at the details of the release, housing and utilities prices rose in March after dropping in the previous month, while price pressures for transportation picked up pace.

Inflation came in at 15.2% in March, up from February’s 12.0%. March's result was the highest inflation rate since November 1996. Meanwhile, the trend pointed up, with annual average inflation coming in at 7.7% in March (February: 6.5%). Lastly, harmonized inflation rose to 14.8% in March, from the previous month's 11.6%.

FocusEconomics panelists see harmonized inflation averaging 9.1% in 2022, which is up 2.6 percentage points from last month’s forecast, and 3.6% in 2023.


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Estonia Inflation March 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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