Transport and electricity had biggest impact on August consumer price index ({{contentCtrl.commentsTotal}})

Coop grocery store in Muhu.
Coop grocery store in Muhu. Source: Coop

According to Statistics Estonia, the change of the consumer price index (CPI) in August 2020 was 0.6 percent compared with July 2020, and -0.9 percent compared with August 2019. Compared with August 2019, goods were 0.3 percent, and services, 2.0 percent, cheaper.

Viktoria Trasanov, the leading analyst at Statistics Estonia, said that for five months in a row, the year‑on‑year change of the CPI has been affected the most by the price decrease of motor fuel. "Compared to last year's August, diesel fuel was 24.2 percent and petrol 6.9 percent cheaper," added Trasanov.

Another significant contributor to the index change was housing services, as the rent was 14 percent cheaper and electricity that reached homes was 7.4 percent cheaper than last year. The opposite effect on the index came mainly from more expensive food and non-alcoholic beverages. The main contributors were more expensive fruit (12.6 percent) and meat and meat products (5.7 percent). Of food products, prices fell the most for fresh fish (19 percent), fresh vegetables (11 percent) and olive oil (10 percent) and increased for fresh fruit and berries (16 percent) and baby food (12.5 percent).

Compared to July, in August, the consumer price index was affected the most by 11.5 percent more expensive electricity that reached homes. A bigger impact came also from 17.8 percent more expensive plane tickets.

Compared to August 2019, regulated prices of goods and services fell by 5.4 percent and non-regulated prices rose by 0.2 percent.

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Editor: Roberta Vaino

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