Estonia Inflation November 2021

Estonia

Estonia: Inflation comes in at highest level since October 2008 in November

December 5, 2021

Consumer prices increased 1.82% from the previous month in November, contrasting October's 0.15% drop. November's result was the highest reading since January 2008. Looking at the details of the release, housing and utilities prices rose in November after dropping in the previous month, while price pressures for transportation eased.

Inflation rose to 8.8% in November from October’s 7.0%. November's reading represented the highest inflation rate since October 2008. Meanwhile, the trend pointed up, with annual average inflation coming in at 3.6% in November (October: 2.7%). Finally, harmonized inflation rose to 8.4% in November, from October’s 6.8%.

FocusEconomics panelists see harmonized inflation averaging 3.1% in 2022, which is up 0.4 percentage points from the previous month’s forecast, and 2.2% in 2023.


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Estonia Inflation November 2021

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


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