Estonia: Inflation remains stable in December

Consumer prices fell 0.3% from the previous month in December, compared to November’s 0.5% decrease. A breakdown of the sub-components showed that 6 of the total 12 saw a fall in prices, led by transport, and clothing and footwear which more than offset higher prices for recreation and culture.

Inflation remained unchanged at November’s seven-month low of 3.4% in December. In a similar fashion, annual average inflation was also stable at 3.4% in December. Lastly, harmonized inflation also remained at the previous month’s 3.4% in December.

Estonia Inflation Forecast

FocusEconomics panelists project harmonized inflation to average 2.8% in 2019, which is unchanged from last month’s forecast. For 2020, they expect inflation to average 2.7%.