Estonia Inflation July 2019

Estonia

Estonia: Inflation slips to a five-month low in July

August 12, 2019

Consumer prices fell 0.1% from the previous month in July, contrasting a 0.2% uptick in June and marking the first contraction since January 2019.

A breakdown of the sub-components provided by Statistics Estonia showed that just 4 of the total 12 saw a fall in prices, led by clothing and footwear, and alcoholic beverages and tobacco, which more than offset higher prices for household goods as well as for food and non-alcoholic beverages.

Inflation fell to a five-month low of 2.1% in July, from 2.4% in June. Meanwhile, annual average inflation ticked down to a 21-month low of 3.0% in July, from previous month’s 3.0%. Lastly, harmonized inflation moderated from 2.6% in June to 2.4% in July.

FocusEconomics panelists project harmonized inflation to average 2.6% in 2019, which is unchanged from last month’s forecast. For 2020 they expect inflation to average 2.6%.


Author:, Economist

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Estonia Inflation July 2019 0

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Statistics Estonia


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