Consumer price index decreased by 0.4 percent in 2020 ({{contentCtrl.commentsTotal}})

Gas station.
Gas station. Source: ERR

Last year, the consumer price index decreased by 0.4 percent compared to the average of 2019, data from Statistics Estonia shows. Fuel prices declined the most while fresh fruit prices rose.

Viktoria Trasanov, leading analyst at Statistics Estonia, said motor fuel had the biggest impact on the annual change of the consumer price index, as diesel fuel was 17 percent and petrol 6.4 percent cheaper.

"A significant impact on the change of the index also came from the 10.5 percent price decrease of electricity that reached homes and from the 2.2 percent increase in food prices. The main contributors to the latter were 17 percent more expensive fresh fruit and 5.4 percent more expensive meat and meat products. Potatoes were 23 percent cheaper and fresh vegetables 12 percent cheaper," said Trasanov.

Change of the consumer price index by commodity groups, 2020 Source: Statistics Estonia.

In December 2020, the consumer price index fell by 0.8 percent compared to December 2019, and remained on the same level compared to November 2020. Compared to December 2019, goods were 1.6 percent cheaper and services 0.6 percent more expensive.

Consumer price index, 2010=100 (2010-2020) Source: Statistics Estonia.

Compared to December 2019, the consumer price index was again affected the most by the price decrease of motor fuel.

The prices of diesel fuel fell by 25.7 percent and the prices of petrol by 12.5 percent. Of food products, the biggest increase occurred in the prices of flour mixes (17 percent), crisps (12 percent) and baby food (11 percent), while the biggest decrease was recorded in the prices of fresh fish (26 percent), potatoes (18 percent), olive oil (13 percent) and butter (12 percent).

Compared to November, the consumer price index of December 2020 was affected the most by the slight price increase of transport services and electricity that reached homes, by the slightly cheaper prices of food and non-alcoholic beverages, and by the start of sales on clothing and footwear.

Change of the consumer price index by commodity groups, December 2020. Source: Statistics Estonia.

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Editor: Helen Wright

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