Smallest change in consumer price index since October 2016

The consumer price index saw its smallest change since October 2016 (picture is illustrative).
The consumer price index saw its smallest change since October 2016 (picture is illustrative). Source: ERR

The change in consumer price index in March, at -0.7 percent, was the lowest in three-and-a-half years, Statistics Estonia reports.

The figure had not fallen below 0.9 percent since October 2016, when it stood at 0.6 percent, the agency says.

The consumer price index on year to March 2020 stood at 0.9 percent, with the figure for goods being 0.8 percent and for services 1.1 percent, according to Statistics Estonia. The figure was compiled before the current coronavirus emergency situation was announced.

Regulated prices of goods and services fell by 3.5 percent and non-regulated prices rose by 2.1 percent.

The consumer price index was affected most by more expensive food and non-alcoholic beverages, compared with the same month last year.

The consumer price index for March largely reflects the situation before the emergency situation, Statistics Estonia says, as the price collection period fell the week before it was announced (on March 12-ed.). The index for education fell, due to the decision of local authorities to suspend kindergarten fees during the emergency situation, the agency says.

The main contributors to the figure came from fresh fruit (19.4 percent increase in price index), and meat and meat products (5.1 percent).

From other food products, rice was 14 percent more expensive, while potatoes were 26 percent more expensive and fresh vegetables 12 percent cheaper.

Electricity to homes, however, was 13.7 percent cheaper, gasoline 0.2 percent more expensive and diesel fuel 2.4 percent cheaper.

Changes on February

The consumer price index was affected most by cheaper motor fuel when compared with February this year, at a 4.7 percent fall. This change contributed to over 40 percent of the total index change, Statistics Estonia says. Food and non-alcoholic beverages were 1.1 percent cheaper and electricity reaching homes 5.1 percent cheaper, compared with last month.

More detailed information is available from Statistics Estonia's website here.

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Editor: Andrew Whyte

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