Estonia Inflation April 2017

Estonia

Estonia: Inflation picks up in April

May 8, 2017

Consumer prices rose 0.3% in April compared to the previous month, matching the reading observed in March. According to Statistics Estonia (SE), the monthly reading mainly reflected higher prices in 5 of the 12 categories of the index, including hotels, cafés and restaurants and education.

In April, inflation increased from 2.8% in March to 3.2%. Meanwhile, annual average inflation edged up from 1.0% in March to 1.3% in April.

HICP inflation jumped from 3.0% in March to 3.5% in April, the highest print since August 2013. Average HICP inflation edged up from 1.5% in March to 1.8% in April, an almost two-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 April 2017

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


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