July consumer price index up 3.6 percent on year ({{commentsTotal}})

Basket of groceries.
Basket of groceries. Source: (Mailiis Ollino/Pärnu Postimees/Scanpix)

According to information released by Statistics Estonia on Monday, the July consumer price index was up 0.7 percent compared to the previous month and 3.6 percent on year.

Compared to July 2016, goods were 3.4 and services 3.9 percent more expensive; regulated prices of goods and services rose by 6.2 and non-regulated prices by 2.9 percent on year.

Compared to July 2016, the consumer price index was affected the most by 5.3 percent more expensive food and non-alcoholic beverages, which accounted for one third of the total rise of the index. Nearly 40 percent of the latter was contributed by milk, dairy products and eggs and 15 percent by meat and meat products, which have become 12.3 and 3.9 percent more expensive, respectively. Alcoholic beverages and tobacco accounted for one fifth of the total rise of the index; compared to a year ago, alcoholic beverages were nine and tobacco products 12.9 percent more expensive. More expensive motor fuel also had a greater impact on the index; compared to July of last year, gasoline was 8.5 and diesel fuel 9.5 percent more expensive. Of food products, the largest price increases were seen for butter (31 percent), low-fat milk (24 percent) and beer (21 percent).

The last time the on-year increase in the consumer price index was greater than 3.6 percent was in June 2013, which saw an increase of 3.8 percent.

In July, compared to June, the consumer price index was affected the most by alcoholic beverages becoming 9.4 percent more expensive, which was due to new excise duty rates being applied and the ending of June discounts. 21.7 percent more expensive beer accounted for half of the total rise of the index. A greater impact on the index change was also attributable to seasonal discounts on clothing and footwear and 3.4 percent more expensive electricity in homes.

Editor: Aili Vahtla

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