Analytics, Inflation, Latvia, Markets and Companies

International Internet Magazine. Baltic States news & analytics Monday, 22.10.2018, 11:10

In January, annual inflation in Estonia made 3.5%

Viktoria Trasanov, Statistics Estonia, 07.02.2018.Print version
According to Statistics Estonia, in January 2018, the change of the consumer price index was 0.4% compared to December 2017 and 3.5% compared to January 2017.

Goods were 4.4% and services 1.8% more expensive compared to January 2017. Regulated prices of goods and services have risen by 7.5% and non-regulated prices by 2.4% compared to January of the previous year.

 

Compared to January 2017, the consumer price index was affected the most by food and non‑alcoholic beverages, which contributed 40% of the total increase of the index. Milk, dairy products and eggs became 6.4%, fruit 13.3% and vegetables 11.5% more expensive. Alcoholic beverages and tobacco accounted for over a fifth of the total increase of the index. A half of the impact of alcoholic beverages and tobacco came from 23.8% more expensive beer. Motor fuel also contributed a fifth of the total increase. Petrol was 12.8% and diesel fuel 12.1% more expensive than in January 2017. Compared to the previous year, of food products, the biggest price increases were seen for eggs (38%), butter (33%) and potatoes (24%).

 

Compared to December 2017, the consumer price index was affected the most by large-scale sales of clothing and footwear. 4.1% more expensive fuel and 3.5% more expensive electricity that arrived at homes also had a greater impact on the index.

 

Due to continuous changes in consumption patterns and prices, Statistics Estonia updates the weights system of the consumer price index and the representative goods every year. In 2018, the weights system of the consumer price index corresponds to the average expenditure structure of the population in 2017. The base prices used for calculations are prices of December 2017. To ensure comparability with previous periods, the consumer price index is continued to be published on the base 1997 = 100. The linking month is December 2017. The table presents the expenditure structure (weights) used in 2017, as well as the expenditure structure used since the index of January 2018.

 

Change of the consumer price index by commodity groups, January 2018

Commodity group

Weight 2017, ‰

Weight 2018, ‰

December 2017 – January 2018, %

January 2017 – January 2018, %

TOTAL

1,000.0

1,000.0

0.4

3.5

Food and non-alcoholic beverages

226.8

227.4

0.8

5.7

Alcoholic beverages and tobacco

69.9

66.2

1.5

11.3

Clothing and footwear

57.9

55.8

-6.2

1.7

Housing

145.5

139.7

1.7

3.0

Household goods

61.7

62.4

0.7

1.0

Health

52.5

54.0

2.2

2.3

Transport

136.5

146.2

0.5

3.6

Communications

47.3

44.1

-0.4

-5.7

Recreation and culture

89.6

89.1

0.8

0.6

Education

11.8

11.6

2.0

-4.7

Hotels, cafés and restaurants

44.9

47.2

-0.7

4.9

Miscellaneous goods and services

55.6

56.3

-0.2

3.9


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.






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