Estonia Inflation December 2017


Estonia: Inflation moderates in December

January 17, 2018

Consumer prices dropped 0.3% in December compared to the previous month, contrasting the 0.5% month-on-month increase observed in November. According to Statistics Estonia, the monthly reading was driven by a price drop in 7 of the 12 components of the index. A steep decline in the prices of alcoholic beverages and tobacco was largely behind December’s month-on-month drop.

Inflation moderated from 4.2% in November to 3.4% in December. Annual average inflation increased from 3.3% in November to 3.4% in December.

HICP inflation moderated from November’s over five and a half year high of 4.5% to 3.8% in December. Lastly, average HICP inched up from 3.5% in November to 3.6% in December.

FocusEconomics Consensus Forecast panelists see harmonized inflation averaging 3.0% in 2018, which is up 0.2 percentage points from last month’s forecast. In 2019, the panel expects harmonized inflation to average 2.6%.

Author: Jean-Philippe Pourcelot, Economist

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Estonia Inflation Chart

Estonia Inflation December 2017

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

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