Estonia Inflation October 2018


Estonia: Inflation surges to an over six-year high in October

November 14, 2018

Consumer prices rose 0.5% over the previous month in October, following September’s flat reading. A breakdown of the sub-components showed that 6 of the total 12 saw an increase in prices, led by higher prices for transport—largely due to rising global oil prices—as well as for clothing and footwear. The remaining 6 sub-components posted a decrease in prices, led by housing and household goods.

Meanwhile, inflation shot up to 4.4% in October (September: 3.7%), marking the highest reading since March 2012. Nevertheless, annual average inflation remained stable in October at 3.5%.

In a similar fashion, harmonized inflation rose to 4.5% in October (September: 3.5%), while annual average harmonized inflation matched September’s 3.5%.

FocusEconomics panelists project harmonized inflation to average 2.8% in 2019, which is unchanged from last month’s forecast. For 2020, they expect inflation to average 2.7%.

Author:, Research Team Manager

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Estonia Inflation Chart

Estonia Inflation October 2018

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

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