Statistics: Inflation rose to 18.8 percent on year to January

Euros (photo is illustrative).
Euros (photo is illustrative). Source: Pixabay

The Consumer Price Index (CPI) in Estonia rose to 18.8 percent on year to January 2023, state agency Statistics Estonia reports. Estonia's rate, while still among the highest in the eurozone, is lower than that of Latvia, the agency says.

The figure for December 2022 had been 17.6 percent on year.

Statistics Estonia's flash assessment finds that the harmonized CPI rose by 19.4 percent on year to 2022 as a whole

Between December 2022 and January 2023, the CPI rose by 0.74 percent.

A Eurostat flash estimate puts overall eurozone inflation to 8.5 percent in January, compared with 9.2 percent in December.

Energy prices, which increased by 17.2 percent, contributed the most to the inflation, followed by food, alcohol and tobacco with a 14.1 percent increase, across the eurozone.

Only Latvia, with a CPI of 21.6 percent in January, had a higher rate in the first month of 2023 than did Estonia, with the other of the three Baltic States, Lithuania, in third place on 18.4 percent.

Slovenia posted a rate of 14.9 percent.

Meanwhile Spain and Luxembourg (5.8 percent each) recorded the lowest CPI for January, followed by Malta at 6.7 percent.

On month, December 2022 to January 2023, Slovakia had the highest CPI rise at 2.7 percent.

At 1.9 percent, the Netherlands had seen the lowest fall on month.


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Editor: Andrew Whyte, Barbara Oja

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