Estonia: Inflation eases again in September
October 7, 2013
Consumer prices fell 0.3% over the previous month in September following the flat reading observed in August. According to Statistics Estonia, a drop in prices for education, as well as for food and non-alcoholic beverages, offset the rise in prices for clothing and footwear.
Annual headline inflation eased from 2.9% in August to 2.1% in September. HICP inflation - based on the harmonized index of consumer prices - fell from 4.0% in July to 3.6% in August, the last month for which data is available.
In August, annual average HICP inflation inched down slightly from 3.9% in July to 3.8%. The Central Bank expects HICP inflation to average 3.6% in 2013 and 2.4% in 2014. FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 3.5% this year, which is up 0.1 percentage points from last month's forecast. Next year, the panel expects average inflation to moderate to 2.9%, which is unchanged from last month's projection.
Author: Carl Kelly, Economist