Estonia: Higher food prices see inflation rising in February
March 7, 2011
In February, consumer prices increased 0.6% over the previous month, which contrasted the flat reading tallied in January and came in higher than the 0.2% rise registered in February 2010. The monthly rise reflected higher food prices, which accounted for more than half the overall price increase. Owing to February's pronounced price increase, annual inflation stepped up from 5.3% in January to 5.7%. Meanwhile, annual average HICP inflation (based on the harmonised index of consumer prices) accelerated from 3.3% in January to 3.7% in February. For this year, the Central Bank expects HICP inflation to average 3.5% before moderating to 1.8% in 2012.