Estonia: Inflation drops to 41-month low in March
Consumer prices in March fell 0.7% over the previous month, contrasting February’s 0.5% month-on-month increase and marking the sharpest contraction in over four years. A breakdown by components provided by Statistics Estonia showed that lower prices for education, transport, and food and non-alcoholic beverages led the downturn, more than offsetting higher prices for clothing and footwear.
Inflation dived to 0.9% in March, from 2.0% in February, marking the lowest reading since October 2016. Meanwhile, annual average inflation ticked down to 2.1% at the end of Q1, from 2.2% in February.