September inflation 2.2 percent on year, food and clothing contributed most
Inflation in September 2019 ran at 2.2 percent year-on-year (y-o-y) according to government agency Statistics Estonia. The sectors exerting the most impact were food and clothing, though there was a slight fall of -0.2 percent on the previous month.
Consumer price index for services saw a 3.5 percent rise, and goods saw a 1.4 percent y-o-y rise, to September 2019.
Regulated prices of goods and services fell by 0.6 percent and non-regulated prices rose by 2.9 percent, Statistics Estonia reports.
Inflation was affected most by the price increase in food and non-alcoholic beverages. The biggest impact on the latter came from a 13 percent rise in the price of vegetables, and a 5.4 percent increase in the price of flour-based products.
The biggest price increases were seen in potatoes (17 percent rise), fresh vegetables (16 percent) and rice (16 percent), while the largest drops occurred with fresh fish prices (16 percent fall).
Alcoholic beverages were 6.8 percent cheaper in September 2019 than the same time in 2018, perhaps influenced by the government's slashing of excise duties on wines.
Diesel prices saw a rise of 0.4 percent, whereas petrol worked out 0.7 percent cheaper, y-o-y to September.
As compared with August 2019, end of season sales of clothing and footwear exerted the strongest impact, Statistics Estonia reports, as well as the 1.5 percent fall in motor fuel and an 8 percent fall in vegetable prices, despite the year-long trend for increase.
More details are available from the Statistics Estonia site here.
Statistics Estonia (Statistikaamet) 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.
Editor: Andrew Whyte