Estonia: Inflation accelerates in August
September 7, 2012
In August, consumer prices rose 0.5% over the previous month, which was above the 0.2% increase observed in July. According to Statistics Estonia, the increase was mainly influenced by higher prices for motor fuel. As a result, annual headline inflation edged up from 3.6% in July to 3.8% in August. Annual HICP inflation (based on the harmonized index of consumer prices), on the other hand, fell from 4.4% in June to 4.1% in July, the latest month for which data are available. Annual average HICP inflation inched down from 4.7% in June to 4.6% in July. The Central Bank expects HICP inflation to average 3.9% this year and 3.2% in 2013.