Statistics: CPI in Estonia up 11.3 percent on year to May 2023

Selver outlet.
Selver outlet. Source: Merilin Pärli/ERR

The consumer price index (CPI) rose by 11.3 percent on year to May 2023, state agency Statistics Estonia reports.

This was the smallest on-year change since January 2022, when the rate was also 11.3 percent, Statistics Estonia says.

Goods rose in price by 11.1 percent, and services by 11.5 percent, on year to May 2023.

Most notable was the fall in price of natural gas, and also vehicle fuels.

Viktoria Trasanov, team lead at Statistics Estonia, said: "Petroleum was 12.9 percent cheaper, diesel fuel 19.3 percent cheaper and natural gas 43.2 percent less expensive," in May 2023, than in May 2022.

The CPI was influenced the most by inflation in food and non-alcoholic beverages, which accounted for two fifths of the total rise, Trasanov added.

Compared with May last year, fresh vegetables were 38.4 percent costlier in May 2023, cereals and cereal products 23.8 percent more expensive, and fresh fruits and berries cost 26.7 percent more in May 2023, compared with May 2022, while meat and meat products were 21.2 percent costlier,

Fresh fish fell in price over the same time-frame and were 19.7 percent cheaper in May 2023, than in the same month last year.

Between April and May 2023, there was no significant change in CPI, the agency says.

Change in CPI Source: Statistics Estonia

Between April and May, CPI was influenced most by transport-related price changes, as plane tickets bought for May were 12 percent cheaper than tickets bought for April, while motor fuel prices fell by 2 percent between April and May 2023.

CPI by commodity Source: Statistics Estonia

Statistics Estonia collects the above data on behalf of the Ministry of Finance.

More detailed information is here.


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Editor: Andrew Whyte

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