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Monday, 13.05.2024, 15:48
Danske Markets: price growth risk in Estonia still valid
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| Violeta Klyviene. |
In her comment on the July consumer price statistics, Klyviene remarked that there is a risk that the increase in domestic demand and tensions on the labour market may start accelerating price growth.
According to Danske Markets, the prices of vegetables fell the most in June and hence it could be said that the deceleration in price growth was mostly due to seasonal factors and not any fundamental changes. The slower price growth was also contributed to by the decline in fuel prices on the global market.
In near future, however, Danske Markets estimates that the impact of global factors on local prices ought to start falling. According to earlier outlooks by Danske, inflation pressure ought to start lowering in the second half of 2011, in particular due to low domestic demand.
The bank predicts that this year the prices will grow by 4.6% and next year by 2.8%.
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