Statistics: Electricity major factor in 11.3 percent CPI rise to January

Fuel prices have also reached record levels (photo from January 27 2022).
Fuel prices have also reached record levels (photo from January 27 2022). Source: Siim Lõvi/ERR

The consumer price index rose by 11.3 percent on year to January 2022, state agency Statistics Estonia reports.

The month-on-month change between December 2021 and January 2022 stood at -0.1 percent, the agency adds.

Statistics Estonia leading analyst Viktoria Trasanov said that government measures curbing energy prices, and an overall fall in electricity prices at the beginning of the year compared with the record levels set at the end of 2021, exerted most influence on the CPI, along with rises in food prices and clothing and footwear.

Trasanov said: "The main reason for lower prices of electricity and pipeline gas is the government decision to put a price cap on these and set the volumes sold at capped prices. In addition, in January, electricity was cheaper than in December."

Compared with January 2021, the CPI was affected the most by housing-related expenditures, which contributed more than 40 percent of the total rise.

Electricity reaching households was 52.6 percent more expensive in January 2022 while the figures for district heating and for natural gas were 42.5 percent and 79.6 percent respectively.

Overall on year to January, goods were 9 percent pricier and services 16 percent more expensive.

Both transport and food and non-alcoholic beverages contributed a fifth of the index rise.

Year-on-year, petrol became 23.2 percent and diesel fuel 26.2 percent more expensive.

Among food products, the biggest price increases compared with January 2021 were recorded for potatoes (106.6 percent), fresh vegetables (30.7 percent) and fresh fish (28.2 percent).

As the consumption patterns of the population and prices continuously change, Statistics Estonia updates the weights system of the CPI and the representative goods each year.

Starting from January 2022 index, the base prices used for calculations are the prices of December 2021.

To ensure comparability with previous periods, Statistics Estonia will base published CPI on 1997 = 100.

More detailed information is here, here and here.


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Editor: Andrew Whyte

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