Statistics: CPI up 6.4 percent on year to July

Meat products in a store.
Meat products in a store. Source: Ken Mürk/ERR

The Consumer Price Index (CPI) in Estonia rose by 6.4 percent on year to July 2023, state agency Statistics Estonia reports.

Between June and July this year, however, the CPI fell slightly, by 0.6 percent.

In July, goods were 8.1 percent more expensive, services 3.1 percent costlier, compared with July 2022, the agency says.

Price falls in fuels were particularly noticeable.

Viktoria Trasanov, team lead at Statistics Estonia, said: "An opposite effect on the index compared with July last year mainly derived from the price fall in motor fuel – gasoline was 16.4 percent cheaper, and diesel fuel even cheaper, by 23.4 percent."

"The price of natural gas fell by 66.8 percent," she added.

On year, the CPI was influenced the most by the price increase of food and non-alcoholic beverages, which accounted for more than a half of the total rise.

Compared with July 2022, sugar was 59.3 percent more expensive this year, cocoa 38.7 percent costlier, and fresh fruits and berries 34.8 percent more expensive.

Sauces (up 33.0 percent on year to July 2023), and confectionery (up 28.3) were other significant items in terms of inflation, Statistics Estonia says.

Some products fell in price meanwhile, for instance edible oils, which were 15.6 percent cheaper, and fresh fish (14.9 percent cheaper in July 2023 than in the previous July).

CPI changes. Source: Statistics Estonia.

Between June and July, the CPI was influenced the most by housing-related price changes, which accounted for more than 60 percent of the total index drop, mainly the result of price drops in heat energy (down 5.6 percent) and natural gas (down 22.1 percent).

CPI changes. Source: Statistics Estonia.

More detailed information from Statistics Estonia is available here, and here, while the agency's CPI calculator is here.

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


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Editor: Andrew Whyte

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