Latest reading: Inflation ticked up to 2.4% in July, following June’s 2.3%. Looking at the details of the release, prices...
Inflation in Estonia
Harmonized consumer price inflation averaged 4.3% in the ten years to 2024. The 2024 average figure was 3.7%. For more inflation information, visit our dedicated page.
Estonia Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Estonia from 2014 to 2024.
Source: Macrobond.
Estonia Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | -0.6 | 4.5 | 19.4 | 9.1 | 3.7 |
| Inflation (CPI, ann. var. %, eop) | -0.8 | 12.2 | 17.6 | 4.0 | 3.9 |
| Inflation (HICP, ann. var. %, eop) | -0.9 | 12.0 | 17.5 | 4.3 | 4.1 |
| Inflation (PPI, ann. var. %, aop) | -2.4 | 12.4 | 26.8 | 0.9 | -0.9 |
Harmonized inflation picks up in July
Latest reading: Harmonized inflation came in at 5.6% in July, which was up from June’s 5.3%. July's figure was the highest inflation rate in two years. Looking at the details of the release, price pressures for food, recreation and transportation picked up pace from the prior month. Annual average harmonized inflation rose to 4.3% in July (June: 4.2%). Meanwhile, consumer price inflation rose to 5.4% in July from June’s 5.0%. Lastly, harmonized consumer prices rose 0.55% over the previous month in July, coming in below June's 1.11% increase.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Estonian inflation projections for the next ten years from a panel of 13 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Estonian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Estonian inflation projections.
Want to get access to the full dataset of Estonian inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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