January price increases higher in Estonia than Latvia or Lithuania
Both on year and compared with December 2023, the consumer price index (CPI) rose faster in Estonia than in either Latvia or Lithuania to its south, according to the three countries' latest respective statistics.
Compared with January 2023, the CPI in Estonia last month had increased 4.7 percent, Statistics Estonia announced last Wednesday.
Meanwhile, Latvia's January CPI rose only 0.9 percent on year, Statistics Latvia reported last Friday – and Lithuania's just 0.7 percent on year, Statistics Lithuania reported Wednesday, noting this was the lowest it had been since it hit 0.6 percent in January 2021.
Prices likewise rose the most on month in Estonia, with the January CPI up 1.4 percent since December 2023, compared with 0.8 percent in Latvia and just 0.3 percent in Lithuania.
In Estonia, the VAT rate increased two percentage points from 20 to 22 percent from January. To the south, the reduced VAT rate applied to domestic fruits and berries in Latvia was hiked from 5 to 12 percent.
No VAT-related changes kicked in last month in Lithuania, although, a higher excise duty rate for alcoholic beverages and tobacco products did enter into effect from January 1.
Last month, Lithuania also saw a 1.5 decrease on year in consumer goods prices, even as consumer services prices increased by 6.4 percent, and 0.2 percent and 0.4 percent decreases, respectively, compared with December.
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Editor: Aili Vahtla
