Estonia: Inflation rises in October
November 7, 2012
In October, consumer prices rose 0.2% over the previous month, which was below the 0.5% increase observed in September. According to Statistics Estonia, the increase was mainly influenced by higher prices for food. As a result of the monthly increase, annual headline inflation rose from 3.8% in September to 4.1% in October, the highest level in seven months. Annual HICP inflation (based on the harmonized index of consumer prices), on the other hand, inched down from 4.2% in August to 4.1% in September, the latest month for which data are available. Annual average HICP inflation inched down from 4.5% in August to 4.4% in September. The Central Bank expects HICP inflation to average 3.9% this year and 3.2% in 2013.