Estonia: Inflation steady in August
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%.