Estonia: Inflation drops to lowest level in over four years
June 6, 2014
Consumer prices increased 0.1% in May, which was up slightly from the flat reading observed in April. According to Statistics Estonia, higher prices for alcoholic beverages and tobacco, as well as for health services and leisure were almost completely offset by lower prices for education and communication.
Annual inflation inched down from 0.2% in April to 0.1% in May, which marks the lowest rate since February 2010. Meanwhile, HICP inflation—based on the harmonized index of consumer prices—interrupted the downward trend that had been in place since July of last year by inching up from 0.7% in March to 0.8% in April (the last month for which data are available). Annual average HICP inflation inched down from 2.6% in March to 2.4% in April.
Author: Carl Kelly, Economist