Estonia Inflation May 2021


Estonia: Inflation comes in at highest level since October 2018 in May

June 7, 2021

Consumer prices increased 0.94% in May over the previous month, accelerating from April's 0.41% rise. May's result was the sharpest increase in prices since April 2019. The result was driven by rising prices for transportation. In addition, housing prices increased significantly.

Inflation came in at 3.6% in May, which was up from April’s 1.9%. May's figure marked the highest inflation rate since October 2018. The annual average variation of consumer prices was flat in May (April: -0.4%). Harmonized inflation rose to 3.1% in May, from the previous month's 1.6%.

FocusEconomics panelists see harmonized inflation averaging 1.7% in 2021, which is up 0.1 percentage points from last month’s estimate, and 2.2% in 2022.


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Estonia Inflation Chart

Estonia Inflation May 2021 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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