Estonian consumer price index grows 0.3% in August ({{commentsTotal}})

Basket of groceries.
Basket of groceries. Source: (Postimees/Scanpix)

The Estonian consumer price index in August increased 0.3 percent on year and 0.1 percent compared to July, Statistics Estonia reported on Wednesday.

Compared to August 2015, goods were one percent more expensive and services 0.9 percent cheaper. Regulated prices of goods and services have risen by 0.7 percent and non-regulated prices by 0.3 percent compared to August of the previous year.

Compared to August 2015, the consumer price index was influenced the most by both alcoholic beverages and tobacco having become 7.8 percent more expensive, which was mainly due to the implementation of new excise duty rates in 2016.

Electricity, heat energy and fuels also had a bigger impact on the index, as they became 5.2 percent cheaper, with 9.5 percent cheaper heat energy accounting for three quarters of the drop. Compared to the same period a year ago, diesel fuel was 3.2 percent more expensive and gasoline 5.4 percent cheaper.

Among food products, the prices of low-fat milk and whole milk have decreased the most compared to 2015, respectively 12 and 9 percent, whereas the prices of processed fruit and sugar have increased the most — by 27 and 24 percent, respectively.

Compared to July, the consumer price index in August was influenced the most by food having become 1.4 percent cheaper as a result of vegetables having undergone a 12 percent and fruit a 6 percent seasonal price drop. Widespread sales on clothing and footwear having ended and 4.8 percent more expensive tobacco products also had a bigger impact on the index.

With the exception of a 0.1 percent increase recorded in May 2015, the 12-month change in the consumer price index was negative from June 2014 through July 2016.

Editor: Editor: Aili Vahtla

Source: BNS