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.