Estonia Inflation May 2018


Estonia: Inflation ticks up in May

June 7, 2018

In May, consumer prices increased 0.3% over the previous month, down from April’s 0.4% print. According to data released by Statistics Estonia, the result was primarily driven by a rise in prices for food and non-alcoholic beverages, clothing and footwear, hotels and cafes, and education. These increases were partially offset, however, by lower prices for communications, recreation and culture, and housing.

Meanwhile, inflation accelerated to 3.0% in May, a notch above the previous month’s 2.9% print. Annual average inflation remained unchanged for the fourth consecutive month at 3.4%.

HICP inflation rose to 3.1% in May, up from the previous month’s 2.9%. Meanwhile, annual average HICP inflation remained stable at 3.6% in May, unchanged from April.

FocusEconomics Consensus Forecast panelists see harmonized inflation averaging 3.1% in 2018, which is unchanged from last month’s forecast. In 2019, the panel expects harmonized inflation to average 2.7%.

Author:, Research Team Manager

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Estonia Inflation Chart

Estonia Inflation May 2018

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

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