Estonia: Inflation rises in April
May 16, 2018
In April, consumer prices increased 0.4% over the previous month, following a flat print in March. According to data released by Statistics Estonia, the result was primarily driven by a rise in prices for transport, particularly for petrol and diesel fuel. Prices for health, hotels and cafes, and recreation and culture also grew notably in April. These increases were partially offset, however, by lower prices for housing, food and non-alcoholic beverages, and household goods.
Meanwhile, inflation accelerated to 2.9% in April, a notch above March’s one-year low of 2.8%. Annual average inflation remained unchanged at the previous month’s 3.4%.
HICP inflation rose notably in April, to 2.9% from 2.5% in March. Meanwhile, average HICP inflation ticked down to 3.6% in April from 3.7% in March, the lowest level in five months.
Estonia Inflation Forecast
FocusEconomics Consensus Forecast panelists see harmonized inflation averaging 3.3% in 2018, which is up 0.1 percentage points from last month’s forecast. In 2019, the panel expects harmonized inflation to average 2.8%.
Author: Lindsey Ice, Economist