Statistics: May consumer price index down 1.7 percent on year

Gas station. Photo is illustrative.
Gas station. Photo is illustrative. Source: Siim Lõvi/ERR

According to information released by Statistics Estonia on Friday, the consumer price index (CPI) in May 2020 decreased 0.7 percent on month and 1.7 percent on year. Compared with May 2019, goods were 1.5 percent and services 2.0 percent cheaper.

"The last time the change in the consumer price index in comparison with the same month of the previous year was so substantial was more than ten years ago in December 2009, when it was also down 1.7 percent," said Viktoria Trasanov, leading analyst at Statistics Estonia.

Compared with May 2019, the CPI was affected the most by the price decrease of motor fuel. Gas was 18 percent cheaper, and diesel fuel, with the excise lowered in May, was 26.8 percent cheaper. Electricity, heat energy and heating were altogether 9.3 percent cheaper. This included electricity that reached homes, which was 17 percent cheaper compared with the previous year.

A greater impact on the index also also from more expensive food and non-alcoholic beverages. The main contributors to their price increase were fruit, and meat and meat products, which were 23.3 percent and 8.1 percent more expensive, respectively. Among food products, prices fell for potatoes (28 percent), fresh vegetables (26 percent) and fresh fish (22 percent).

Regulated prices of goods and services fell by 10.8 percent, while non-regulated prices rose by 0.8 percent on year.

Compared with April, the CPI was affected the most by 10.5 percent cheaper motor fuel and by housing, where prices decreased for rent (4.9 percent), electricity that reached homes (1.6 percent) and gas (6.5 percent).


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Editor: Aili Vahtla

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