Estonia: Inflation ticks up in January
February 22, 2018
Consumer prices rose 0.4% in January compared to the previous month, marginally up from December’s 0.4% month-on-month increase. According to Statistics Estonia, the increase was largely broad-based, with above-average increases in the prices of housing and healthcare easily offsetting a notable drop in the prices of clothing and footwear.
Inflation accelerated modestly from 3.4% in December to 3.5% in January. In turn, annual average inflation also increased slightly to 3.5% in January, from 3.4% observed in the previous month.
HICP inflation inched down from December’s 3.8% to 3.6% in January, marking the lowest reading since June 2017. Meanwhile, average HICP inflation ticked up to 3.7% in January, from 3.6% in the previous month.
Estonia Inflation Forecast
FocusEconomics Consensus Forecast panelists see harmonized inflation averaging 3.2% in 2018, which is up 0.1 percentage points from last month’s forecast. In 2019, the panel expects harmonized inflation to average 2.9%.
Author: Almanas Stanapedis, Economist