Estonia Inflation March 2017

Estonia

Estonia: Inflation moderates in March

April 13, 2017

Consumer prices rose 0.3% in March compared to the previous month, coming in below the 1.3% increase observed in February. According to Statistics Estonia (SE), the monthly reading mainly reflected higher prices in 5 of the 12 categories of the index, including clothing and footwear, food and non-alcoholic beverages and recreation and culture.

In March, inflation declined from February’s multi-year high of 3.4% to 2.8%. Meanwhile, annual average inflation edged up from 0.7% in February to 1.0% in March.

HICP inflation dipped from 3.4% in February to 3.0% in March. Average HICP inflation edged up from 1.3% in February to 1.5% in March, an over two-and-a-half year high.

The Central Bank foresees harmonized inflation averaging 2.8% in 2017 and 2.4% in 2018. FocusEconomics Consensus Forecast panelists expect harmonized inflation to average 2.0% in 2017, which is unchanged from last month’s forecast. In 2018, the panel expects average inflation to accelerate to 2.4%.


Author: Jean-Philippe Pourcelot, Economist

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Estonia Inflation March 2017 0

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


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