Estonia: Inflation edges up in August
September 24, 2018
Consumer prices rose 0.5% over the previous month in August, up from July’s 0.1% uptick. According to data released by Statistics Estonia, the acceleration was led by higher prices for clothing and footwear, and household goods. Overall, just 3 out of the 12 components posted month-on-month declines in prices, with alcoholic beverages and tobacco posting the largest drop.
Meanwhile, inflation edged up to 3.6% in August, from 3.5% in July. Annual average inflation, however, remained unchanged from the previous month’s print at 3.5%.
Harmonized inflation edged up from 3.3% in July to 3.5% in August. Meanwhile, annual average harmonized inflation ticked down to 3.5% in August, from 3.6% in July, marking the lowest reading so far this year.
Estonia Inflation Forecast
FocusEconomics panelists project harmonized inflation to average 3.1% in 2018. For 2019, they expect inflation to average 2.8%.
Author: Almanas Stanapedis, Research Team Manager