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.
Author: Almanas Stanapedis, Economist