Statistics: On-year CPI rise to September lowest since 2021

Supermarket. Source: ERR

The Consumer Price Index (CPI) rose by 4.2 percent on year to September, state agency Statistics Estonia says.

The last time the change in CPI on year was lower than this figure came in June 2021 (when it stood at 3.8 percent). There was a range in different changes across categories, however, with many food categories still seeing significant inflation.

Goods were 5.7 percent costlier, services 1.3 percent more expensive, than in September 2022, the agency says.

The CPI remained unchanged between August and September 2023, Statistics Estonia adds.

Commenting on the results, Viktoria Trasanov, team lead at Statistics Estonia, said "Other major contributors to the index change were housing-related price changes (whose CPI fell by 6.9 percent) and motor fuels, as gasoline was 3.8 percent and diesel fuel 10.2 percent cheaper."

Changes in CPI on year to September 2023 were influenced the most by inflation seen in food and non-alcoholic beverages, which accounted for a half of the total rise.

Compared with September 2022, in September 2023, fruits cost 16.7 percent more, meat and meat products were 12.6 percent more expensive, flour, cereals and cereal products cost 11.9 percent more, sugar, confectionery and preserves were 11.5 percent costlier, while mineral water, soft drinks and juices were 10.3 percent more expensive, Statistics Estonia says.

CPI changes. Source: Statistics Estonia

Between August and September this year, the CPI was influenced the most by the price fall seen with accommodation services (12.8 percent) and with food (down 1.3 percent), and by the end of the seasonal sales on clothing and footwear.

On the other hand, the 2.1 percent rise in the price of motor fuels between August and September also made its effects known.

CPI changes. Source: Statistics Estonia

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

See also Statistics Estonia's CPI calculator here, its prices section here, and other more detailed data here.

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Editor: Andrew Whyte

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