Energy and fuel costs behind much of inflation to November ({{commentsTotal}})

The biggest rise in y-o-y CPI to November was increases in energy and fuel costs, particularly to households (picture is illustrative).
The biggest rise in y-o-y CPI to November was increases in energy and fuel costs, particularly to households (picture is illustrative). Source: (Siim Lõvi/ERR)

The consumer price index (CPI) in Estonia rose year-on-year (y-o-y) by 3.4% in November, and was affected primarily by changes in fuel and energy prices including electricity and gas.

According to the data, released by Statistics Estonia, services saw double the y-o-y CPI rise at 5%, compared with goods (2.5%). Regulated prices of goods rose by 7.5% over the same period, with non-regulated prices rising by 2.2% at the same time.

Nearly a quarter of the total increase was the result of price increases in electricity, gas and other fuels and energy sources, according to Statistics Estonia.

A breakdown of CPI rises in the sector y-o-y is as follows:

Solid fuels 23.3%
Household electricity 16.9%
Diesel  10.2%
Gas 8.8%
Petrol 8.1%
Heating energy 5.7%

 

Another sector to contribute to overall CPI y-o-y rises was food and non-alcoholic beverages contributed a ninth of the total increase. The biggest y-o-y price increases were seen in fresh vegetables (19%), ready-made meals (13%) and potatoes (11%). Conversely, prices fell in sugar (20%), fresh fish and butter (both 11%).

The CPI fell by 0.5% on the previous month, October 2018. Over the month's timeframe the CPI was most influenced by changes in transport prices. Plane tickets bought in November were 37% lower than October, with petrol and diesel falling by 2.8% and 1.6% over the same period. This was counterbalanced by a rise of 4.2% in electricity prices to households, and a 2.3% rise in heating energy, between October and November, as the winter heating season arrived.

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Statistics Estonia is a government agency under the aegis of the Ministry of Finance, and provides public institutions, business and research circles, international organisations and individuals with reliable and objective information on the economic, demographic, social and environmental situation and trends in Estonia.

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Editor: Andrew Whyte



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