Estonia: Inflation eases in June
August 7, 2013
Consumer prices fell 0.1% over the previous month in July, contrasting the 0.5% increase observed in June. According to Statistics Estonia, the drop was mainly influenced by lower electricity prices.
Annual headline inflation eased from 3.8% in June to 3.4% in July. Meanwhile, HICP inflation - based on the harmonized index of consumer prices - rose from 3.6% in May to 4.1% in June, the last month for which data is available.
In June, annual average HICP inflation remained unchanged at May's 3.9%. The Central Bank expects HICP inflation to average 3.6% in 2013 and 2.4% in 2014. FocusEconomics Consensus Forecast panellists expect harmonized inflation to average 3.4% this year, which is down 0.1 percentage points from last month's forecast. Next year, the panel expects average inflation to moderate to 3.0%.