Analytics, Estonia, Foodstuff, Inflation, Markets and Companies

International Internet Magazine. Baltic States news & analytics Saturday, 24.02.2018, 17:55

Cost of food basket in Estonia up 6.8% in 2017

BC, Tallinn, 13.02.2018.Print version
The cost of the weekly basket of groceries for a family of four used by the Estonian Institute of Economic Research (EKI) to monitor food prices rose 6.8% on year to 74.40 euros last year, which is the highest cost ever, informs LETA/BNS.

In December the price of cabbage, butter and potatoes increased the most, while the price of fish and meat products declined.


A family of four used 74.40 euros per week on the basket of groceries in December, which is 6.8% more than in December 2016.

 

According to EKI, the reason behind the price growth was an overall increase in the prices on the global market as well as an increase in companies' expenses.

 

The price increase has a negative effect on the consumers' estimation of the economic situation of the household as well as the state.

 

In EKI's estimation the consumer price index (CPI) is to increase 3.1% in 2018.






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