Estonia: Inflation jumps to highest level in nearly 10 years in July
August 9, 2021
Consumer prices increased 1.09% in July over the previous month, slowing from the 1.17% increase recorded in June. Looking at the details of the release, July’s result was mainly driven by slower price growth for transportation, and housing and utilities, as well as declining prices for entertainment.
Meanwhile, inflation came in at 5.0% in July, which was up from June’s 3.8%. July's reading represented the highest inflation rate since September 2011. Meanwhile, the trend pointed up, with annual average inflation coming in at 0.9% in July (June: 0.4%). Lastly, harmonized inflation rose to 4.9% in July, from June’s 3.7%.