Annual inflation in Estonia made 3.9% in August

According to Statistics Estonia, the change of the consumer price index in August 2017 was 0.4% compared to July 2017 and 3.9% compared to August of the previous year.

Compared to August 2016, goods were 3.8% and services 4.1% more expensive. Regulated prices of goods and services have risen by 7.2% and non-regulated prices by 3.0% compared to August of the previous year - writes baltic-course.com.

Compared to August 2016, the consumer price index was affected the most by 6.4% more expensive food and non-alcoholic beverages, which contributed more than a third of the total increase of the index. A third of the latter was contributed by 13.2% more expensive milk, dairy products and eggs. Alcoholic beverages and tobacco accounted for a fifth of the total increase of the index, of which three-fifths were contributed by 28% more expensive beer and a fifth by 8.6% more expensive tobacco products. The price increase of motor fuel also had a greater impact on the index. Petrol was 9.5% and diesel fuel 10.2% more expensive than in August 2016. Of food products, the biggest price increases were seen for butter (44%), low-fat milk (25%) and olive oil (25%).

The previous time that the change of the consumer price index compared to the same month of the previous year was greater than 3.9% was in October 2012, when the change was 4.1%.

In August, compared to July, the consumer price index was affected the most by housing. Electricity that reached homes was 2.4% and rent for housing 3.5% more expensive. The ending of seasonal sales of clothing and footwear and 9% less expensive fresh fruit also had a greater impact on the index change.

Statistics Estonia publishes the consumer price index on the 5th working day of each month, after the end of the reporting period. For the statistical activity “Consumer price index”, the main representative of public interest is the Ministry of Finance, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.

Read more news of Tallinn here.

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