CPI Growth Final Figure: 5% for 2011 ({{commentsTotal}})

Source: Photo: ERR

According to a Statistics Estonia report, the final figure for the consumer price index growth last year was 5 percent.

The annual change of the index was mainly effected by the 9.7 percent price increase of food and non-alcoholic beverages, which accounted for two-fifths of the total increase. Also, the 6.2 percent overall price increase of electricity and heating, and the 12.2 percent price increase of motor fuel were major contributors, both adding another fifth to the total boost.

Coffee was 45 percent and sugar 43 percent more expensive in 2011 compared to the average of the previous year.

In spite of the slight drop in food prices at the end of the year, potatoes remained 34 percent more expensive than in 2010. Eggs were cheaper by nearly a tenth.

The December growth was 3.7 percent year on year, mainly driven by household expenses.

For 2012, all major financial institutions have predicted a lowering of inflation resulting from freezing economies and deflationary pressure on commodity prices on the world market.

 

Erkki Sivonen



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