Statistics: Inflation 2.4 percent on year to August, food biggest influence ({{contentCtrl.commentsTotal}})

Food price rises have exerted the most influence on inflation over the past year (picture is illustrative).
Food price rises have exerted the most influence on inflation over the past year (picture is illustrative). Source: Statistics Estonia

Consumer price index inflation rose by 2.4 percent year-on-year (y-o-y) to August 2019, with changes in food and transport sector prices exerting the most influence.

Goods prices rose by 1.8 percent, and services by 3.3 percent, during that period, according to Statistics Estonia. While regulated prices of goods and services fell y-o-y by 0.5 percent to August, non-regulated prices rose by 3.2 percent.

Food and non-alcoholic beverages contributed over 40 percent of the total increase, of which around half came from a 27 percent rise in vegetable prices.

Alcoholic beverages came in at 5.8 percent cheaper, with diesel prices falling by 0.6 percent and petrol by 0.4 percent.

The coalition government slashed alcohol excise duties by 25 percent, coming into effect at the beginning of July. Spirits and liqueurs saw the largest fall (9.4 percent).

As well as vegetables as a whole rising in price, fresh vegetables rose by 41 percent, potatoes by 35 percent and rice by 16 percent, y-o-y, to August 2019.

In comparison with the previous month, the consumer price index was affected the most by transport, particularly plane tickets, which saw a 26 percent rise on the previous month. End-of-season discount sales on clothing exerted a downward pressure, but rents increased by 5.7 percent between July and August, according to Statistics Estonia.

A more detailed breakdown is available here.

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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 organizations 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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