Estonia: Inflation rises in June
July 5, 2013
In June, consumer prices rose 0.5% over the previous month, which was above the 0.2% increase observed in May. According to Statistics Estonia, the rise was mainly influenced by higher electricity prices.
As a result of the monthly increase, annual headline inflation rose from 3.3% in May to 3.8% in June. Meanwhile, May's HICP inflation (based on the harmonized index of consumer prices), the latest month for which data are available, rose to 3.6% from 3.4% in April.
Annual average HICP inflation inched down to 3.9% in May. The Central Bank expects HICP inflation to average 3.6% in 2013 and 2.4% in 2014. FocusEconomics Consensus Forecast panellists expect harmonized inflation to average 3.4% this year, which is down 0.1 percentage points from last month's forecast. Next year, the panel expects average inflation to moderate to 3.0%.