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%.
Author: Almanas Stanapedis, Economist