Banks, Direct Speech, Estonia
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Saturday, 20.04.2024, 08:28
Inflation in Estonia in 2018 was the fastest in the euro area
On top of prices for motor fuels, other energy prices rose gradually last year, increasing for electricity, solid fuels and heat energy. Inflation pressures were eased though by food products, which saw falling inflation throughout the year.
Consumer prices were 0.3% lower in December than in November. This was because prices were down for motor fuels, and also because of seasonal discounts for manufactured goods. More discounts were offered for clothing and shoes than a year earlier. Services prices are rising, mainly because of higher prices for leisure services.
Inflation is likely to fall in 2019 if only because excise rates will rise by less. Eesti Pank forecasts that inflation will be below 3% this year assuming no very large changes in commodities prices. Futures prices for oil in the commodities market are currently at around 60 dollars a barrel, though the actual price may differ from this, as it has before.