Statistics: CPI up 9.2 percent on year to June, driven by food prices

Food on sale in an Estonian supermarket.
Food on sale in an Estonian supermarket. Source: Merilin Pärli/ERR

Consumer Price Index (CPI) rose by 9.2 percent on year to June 2023, according to state agency Statistics Estonia. This CPI rise was influenced the most by the price increase of food and non-alcoholic beverages, which accounted for almost a half of the total rise.

The last time that the change in CPI on year was below this level was posted in November 2021, when the figure stood at 8.8 percent.

Goods were 9.0 percent and services 9.2 percent more expensive than in June 2022, the agency reports.

Meanwhile between May 2023 and June 2023, the CPI rose by 0.7 percent, Statistics Estonia says.

Viktoria Trasanov, team lead at Statistics Estonia, said: "Motor fuels also had a bigger impact on the index change, as petrol was 20.7 percent and diesel fuel 25.6 percent cheaper," added Trasanov.

Compared with June last year, fresh vegetables were in June 2023 37.2 percent costlier. Fresh fruits and berries were 34.5 percent more expensive over the same time frame.

Four, cereals and cereal products were 21.7 percent dearer, meat and meat products 16.8 percent more expensive, while milk, dairy products and eggs were 16.2 percent more expensive.

Of price falls, "other" edible oils were 6.6 percent less expensive in June 2023 compared with June 2022, while fresh fish rose fell in price, by 6.2 percent cheaper, Statistics Estonia says.

CPI. Source: Statistics Estonia

Compared with May, the CPI was influenced the most by price changes related to food and non-alcoholic beverages, which accounted for two fifths of the total rise, while nearly a half of this derived from a 9.4 percent price rise in fresh fruits and berries.

Accommodation services were 16.2 percent more expensive in June than in May, perhaps unsurprisingly as high season arrived, and provided more than a fifth of the total index increase.

Change in CPI. Source: Statistics Estonia

Statistics Estonia collected and analyzed the above data on behalf of the ministry of finance.

More detailed information is here and here.


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Editor: Andrew Whyte

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