Estonia: Inflation stabilizes in September
October 5, 2012
In September, consumer prices rose 0.5% over the previous month, which mirrored the increase observed in August. According to Statistics Estonia, the increase was mainly influenced by higher prices for clothing and footwear as well as for motor fuel. Despite the monthly increase, annual headline inflation remained unchanged at August's 3.8%. Annual HICP inflation (based on the harmonized index of consumer prices), on the other hand, inched up from 4.1% in July to 4.2% in August, the latest month for which data are available. Annual average HICP inflation edged down from 4.6% in July to 4.5% in August. The Central Bank expects HICP inflation to average 3.9% this year and 3.2% in 2013.