Estonia Inflation June 2017

Estonia

Estonia: Inflation moderates in June

July 19, 2017

Consumer prices dropped 0.1% in June compared to the previous month, contrasting the 0.2% increase observed in May. According to Statistics Estonia (SE), the monthly reading mainly reflected lower prices in 4 of the 12 categories of the index, including alcoholic beverages and tobacco and clothing and footwear.

In June, inflation moderated from 3.3% in May to 2.9%. Meanwhile, annual average inflation edged up from 1.7% in May to 2.0% in June.

HICP inflation edged down from 3.5% in May to 3.1% in June. Average HICP inflation jumped from 1.8% in April to 2.1% in May, an almost three-year high.

FocusEconomics Consensus Forecast panelists forecast harmonized inflation to average 3.0% in 2017, which is up 0.2 percentage points from last month’s forecast. In 2018, the panel expects harmonized inflation to average 2.6%.


Author: Jean-Philippe Pourcelot, Economist

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Estonia Inflation June 2017

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


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