August consumer price index up 3.9 percent on year ({{commentsTotal}})

Increased milk, dairy product and egg prices played a significant role in increased food prices in August.
Increased milk, dairy product and egg prices played a significant role in increased food prices in August. Source: (Postimees/Scanpix)

According to information released by Statistics Estonia on Thursday morning, the consumer price index in August increased 0.4 percent compared to July and 3.9 percent compared to August 2016.

Compared to August of last year, goods were 3.8 percent and services 4.1 percent more expensive. Regulated prices of goods and services also rose by 7.2 and non-regulated prices by three percent compared to last August.

Compared to August 2016, the consumer price index was affected the most by 6.4 percent more expensive food and non-alcoholic beverages, which contributed more than one third of the total increase of the index. One third of this increase in turn was contributed by 13.2 percent more expensive milk, dairy products and eggs. Of food products, the biggest price increases were seen for butter (44 percent), low-fat milk (25 percent) and olive oil (25 percent).

Alcoholic beverages and tobacco, meanwhile, accounted for one fifth of the total increase of the index, three-fifths of which were contributed by 28 percent more expensive beer and one-fifth by 8.6 percent more expensive tobacco products.

The increase in the price of motor fuel also had a greater impact on the index, with gasoline and diesel fuel costing 9.5 and 10.2 percent more, respectively, than last August.

The last time the change in the consumer price index on year was greater than 3.9 percent was in October 2012, which had seen a 4.1 percent increase.

Compared to July, the consumer price index in August was affected most by housing-related costs. Domestically consumed electricity was 2.4 and rent 3.5 percent more expensive, while the conclusion of seasonal clothing and footwear sales and nine percent less expensive fresh fruit also had a greater impact on the chang in index.

Editor: Aili Vahtla



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