Analytics, Estonia, Inflation, Markets and Companies

Compared to July 2016, goods were 3.4% and services 3.9% more expensive. Regulated prices of goods and services have risen by 6.2% and non-regulated prices by 2.9% compared to July of the previous year.

Compared to July 2016, the consumer price index was affected the most by 5.3% more expensive food and non-alcoholic beverages, which contributed a third of the total rise of the index. Nearly 40% of the latter was contributed by milk, dairy products and eggs and 15% by meat and meat products, which have become 12.3% and 3.9% more expensive, respectively. Alcoholic beverages and tobacco accounted for a fifth of the total rise of the index. Compared to a year ago, alcoholic beverages were 9% and tobacco products 12.9% more expensive. More expensive motor fuel also had a greater impact on the index. Compared to July 2016, petrol was 8.5% and diesel fuel 9.5% more expensive. Of food products, the biggest price increases were seen for butter (31%), low-fat milk (24%) and beer (21%).

The previous time that the change of the consumer price index compared to the same month of the previous year was greater than 3.6% was in June 2013, when the change was 3.8%.

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

Change of the consumer price index by commodity groups, July 2017

Statistics Estonia publishes the consumer price index on the 5th working day of each month, after the end of the reporting period. For the statistical activity “Consumer price index”, the main representative of public interest is the Ministry of Finance, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.