Analytics, Estonia, Inflation, Markets and Companies

Viktoria Trasanov, leading analyst at Statistics Estonia, said that for five months in a row, the year‑on‑year change of the consumer price index has been affected the most by price decrease of motor fuel. “Compared to last year’s August, diesel fuel was 24.2% and petrol 6.9% cheaper,” added Trasanov.

Another significant contributor to the index change was housing services, as rent was 14% cheaper and electricity that reached homes was 7.4% cheaper than last year. An opposite effect to the index came mainly from more expensive food and non-alcoholic beverages. The main contributors were more expensive fruit (12.6%) and meat and meat products (5.7%). Of food products, prices fell the most for fresh fish (19%), fresh vegetables (11%) and olive oil (10%) and increased for fresh fruit and berries (16%) and baby food (12.5%).

Compared to July, in August, the consumer price index was affected the most by 11.5% more expensive electricity that reached homes. A bigger impact came also from 17.8% more expensive plane tickets.

Compared to August 2019, regulated prices of goods and services fell by 5.4% and non-regulated prices rose by 0.2%.

See also the consumer price index calculator.

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 data. The data help to get an overview of the situation in Estonia, allowing ministries to make informed decisions.

More detailed data have been published in the statistical database.