Consumer prices up 18.8 percent on year
The consumer price index was up 18.8 percent year-over-year in April, with price advance faster than it has been in decades. Housing expenses contributed the most, Statistics Estonia reports.
According to Statistics Estonia, in April 2022, the consumer price index increased by 3.6 percent compared to March 2022, and by 18.8 percent compared to April 2021. Goods were 14.4 percent and services 27.8 percent more expensive than in April last year.
Viktoria Trasanov, leading analyst at Statistics Estonia, said that compared to April 2021, the consumer price index was affected the most by housing-related price changes, which contributed over 40 percent of the total spike. Electricity that reached homes was 119 percent, heat energy 57.7 percent and pipeline gas 237.2 percent more expensive. "In April, the automatic compensation scheme for electricity, electricity transmission fees, district heating, pipeline gas and gas transmission fees ended," Trasanov explained. Rents were 34.4 percent more expensive.
The price changes of food and non-alcoholic beverages and the price changes of transport both accounted for nearly a fifth of the total increase. Among food products, the biggest increase compared to April 2021 was recorded in the prices of potatoes (134.3 percent), oils (57 percent), cereals flour (37.7 percent), pasta products (36.9 percent), eggs (34.8 percent) and fresh fish (30.7 percent). Petrol was 32.5 percent and diesel fuel 48.6 percent more expensive.
Educational and childcare costs spiked as local governments' kindergarten fee suspensions introduced to mitigate the effects of the Covid pandemic also expired.
Compared to March, the biggest impact on the consumer price index came from housing-related price increases, which accounted for over 70 percent of the total rise. Electricity that reached homes was 28.6 percent, heat energy 23.8 percent, pipeline gas 96 percent and rents 12.5 percent more expensive. Compared to March, motor fuel was 3.8 percent cheaper in April.
Follow ERR News on Facebook and Twitter and never miss an update!
Editor: Marcus Turovski
Source: Statistics Estonia