Statistics: Inflation stood at 22.8 percent on year to July 2022
The Consumer Price Index (CPI), a measure of inflation, rose 22.8 percent on year to July 2022, state agency Statistics Estonia reports.
Viktoria Trasanov, lead analyst at Statistics Estonia, said that in July 2022, compared with July 2021: "Natural gas was 235.4 percent more expensive, electricity to homes 142.9 percent costlier, heating energy cost 62.7 percent more and solid fuels were 80.1 percent more expensive."
"The price changes of food and non-alcoholic beverages accounted for a fifth of the total rise in the index. Petrol was 39.1 percent and diesel fuel 60.1 percent more expensive," Trasanov added, via a press release.
Services exerted an even greater driver over inflation; the CPI here stood at 33.1 percent on year to July compared with 17.7 percent for goods, Statistics Estonia reports.
At the same time, the single-most influential sector came in house prices, which contributed 40 percent of the total rise.
As regards staple goods, flour and cereals prices rose by as much as 72.3 percent on year to July, while fresh fish (whose prices rose by 59 percent on year to July), eggs (prices rose by 56.7 percent), other oils (up 49.5 percent), pasta products (43.1 percent) and sugar (40.3 percent), were the most significant segments.
Between June and July, CPI rose 1.9 percent, also influenced the most by housing- and food-related price changes.
Electricity to homes was 15 percent more expensive, and gas 22.5 percent costlier, Statistics Estonia says.
CPI rises in food and non-alcoholic beverages accounted for a fifth of the total increase.
Accommodation services were 16.5 percent more expensive between June and July, Statistics Estonia reports, likely reflecting higher demand during holiday season.
On bright spot came with fuel, which fell in price between June and July 2022. Gasoline prices fell by 5.2 percent and diesel by 2.9 percent, over that month.
More detailed information is here, here and here.
Statistics Estonia collects and analyses CPI data on behalf of the Ministry of Finance.
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Editor: Andrew Whyte