Estonia Inflation (HICP, ann. var. %, aop)

Inflation in Estonia

Harmonized inflation falls to over one-year low in April

Harmonized inflation came in at 13.2% in April, which was down from March’s 15.6%. April’s result represented the lowest inflation rate since February 2022. Looking at the details of the release, prices for food and non-alcoholic beverages grew at a weaker pace in April. Housing and utilities price growth also moderated. In contrast, prices for transportation rebounded.

In addition, the trend pointed down, with annual average harmonized inflation coming in at 20.0% in April (March: 20.5%). Meanwhile, consumer price inflation fell to 13.5% in April, from the previous month’s 15.3%.

Finally, harmonized consumer prices increased 1.93% in April over the previous month, picking up from March’s 0.72% rise. April’s result was the highest reading since August 2022.