Estonia Inflation June 2018


Estonia: Inflation jumps in June

July 6, 2018

Consumer prices rose 0.9% over the previous month in June, accelerating from May’s 0.3% increase. According to data released by Statistics Estonia, the uptick was primarily driven by a rise in prices for housing and transport. These increases were, however, partially offset by lower prices for clothing and footwear, as well as by alcoholic beverages and tobacco, which were the only two components to post month-on-month declines.

Meanwhile, inflation jumped to 4.0% in June, from 3.0% in May, marking the highest reading since last November. In turn, annual average inflation rose from 3.4% to 3.5%.

Harmonized inflation shot up from 3.1% in May to 3.9% in June. Meanwhile, annual average harmonized inflation ticked up to 3.7% from 3.6%.

FocusEconomics Consensus Forecast panelists see harmonized inflation averaging 3.1% in 2018, which is unchanged from last month’s forecast. In 2019, the panel expects harmonized inflation to average 2.8%.

Author:, Research Team Manager

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Estonia Inflation Chart

Estonia Inflation June 2018

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

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