Consumer price index increases by 2.7% year on year in January

At the opening of a supermarket. Image is illustrative.
At the opening of a supermarket. Image is illustrative. Source: Maxima

According to Statistics Estonia, the consumer change index changed by -0.2% compared to December 2018, and increased by 2.7% year on year in January.

Goods were 1.5% and services 4.9% more expensive compared to January 2018. Regulated prices of goods and services increased by 4%, and non-regulated prices by 2.3% compared to January 2018.

The consumer price index was affected the most by housing, which contributed nearly half of the total increase. Of the latter, half was contributed by the 18.1% more expensive electricity that reached homes, and one-sixth by the 19.8% more expensive solid fuels.

Motor fuels were cheaper in January 2019 compared to January 2018. Petrol was 5.4% and diesel fuel 3.5% less expensive than a year ago. The biggest year-on-year price increases among food products were seen in fresh vegetables (27%), potatoes (25%) and ready-made meals (14%), while the biggest price decreases were seen in sugar (20%), fresh fruit (11%) and eggs (11%).

Due to the continuously changing consumption pattern of the population as well as prices, Statistics Estonia updates the weights system of the consumer price index and the representative goods every year.

In 2019, the weights system of the consumer price index corresponds to the average expenditure structure of the population in the year before. The base prices used for calculations are the 2018 December prices. To ensure comparability with previous periods, the consumer price index is continued to be published on the base of 1997 = 100. The linking month is December 2018.

Editor: Dario Cavegn

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