Estonia: Inflation moderates to a 28-month low in December
January 8, 2013
In December, consumer prices fell 0.1% over the previous month, which followed the 0.3% decrease observed in November. According to Statistics Estonia, the decline was mainly influenced by lower prices for fuel as well as for alcoholic beverages.
As a result of the monthly decrease, annual headline inflation inched down from 3.6% in November to 3.5% in December, the lowest level seen in 28 months. In addition, annual HICP inflation (based on the harmonized index of consumer prices), edged down from 4.2% in October to 3.8% in November, the latest month for which data are available.
Annual average HICP inflation remained stable at 4.3% in November.