Estonia Inflation August 2021

Estonia

Estonia: Inflation steady in August

September 9, 2021

Consumer prices rose 0.72% in August over the previous month, moderating from July's 1.09% increase. August's result marked the weakest reading since April. The reading was largely due to slower growth in prices for food and non-alcoholic beverages. In addition, price pressures for transportation eased. Notably, however, house prices kept soaring in the month, which led to higher rental costs.

Inflation was stable at July's 5.0% in August. August's result marked the highest inflation rate since September 2011. Meanwhile, the trend pointed up, with annual average inflation coming in at 1.4% in August (July: 0.9%). Finally, harmonized inflation ticked up to 5.0% in August, from July’s 4.9%.

FocusEconomics panelists see harmonized inflation averaging 2.2% in 2021, which is up 0.3 percentage points from last month’s estimate, and 2.5% in 2022.


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Estonia Inflation August 2021

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


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