Estonia: Inflation rises again in April, marking a EMU-high
May 6, 2011
In April, consumer prices increased 0.7% over the previous month, following on a 0.8% rise tallied in March. The reading came in above the 0.5% rise registered in April 2010, which saw annual inflation step up to 5.4% (March: 5.2%). At the current level, Estonia's annual inflation is the highest among the 17 countries of the European Monetary Union. The monthly price rise reflected higher food prices (+2.0% month-on-month), which accounted for more than half of April's overall price increase. Meanwhile, annual average HICP inflation (based on the harmonized index of consumer prices) continued to accelerate, stepping up from 4.1% in March to 4.3% in April. For this year, the Central Bank expects HICP inflation to average 3.5%, before moderating to 1.8% in 2012.