Estonia Inflation


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.

The Central Bank expects HICP inflation of 2.3% in 2014 and of 3.0% in 2015. FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 1.5% in 2014, which is down 0.3 percentage points from last month’s forecast. In 2015, the panel expects average inflation to accelerate to 2.3%.

Author:, Economist

Sample Report

Looking for forecasts related to Inflation in Estonia? Download a sample report now.


Estonia Inflation Chart

Estonia Inflation May 2014 1

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

Estonia Economic News

More news

Search form