Estonia’s inflation keeps growing – 22.8% in July year-on-year

According to Statistics Estonia, in July, the country’s consumer price index increased by 1.9% compared with June, and by 22.8% compared with July 2021; goods were 17.7% and services 33.1% more expensive than in July last year.

In June, the country’s year-on-year inflation was 21.9%.

Viktoria Trasanov, a leading analyst at Statistics Estonia, the country’s official statistics agency, said that, compared with July 2021, the consumer price index was affected the most by housing-related price changes, which contributed over 40% of the total rise. 

“Electricity that reached homes was 142.9%, heat energy 62.7%, natural gas 235.4% and solid fuels 80.1% more expensive. The price changes of food and non-alcoholic beverages accounted for a fifth of the total rise in the index. Gasoline was 39.1% and diesel fuel 60.1% more expensive,” Trasanov said in a statement.

Among food products, the biggest increases compared with July 2021 occurred in the prices of flour and cereals (72.3%), fresh fish (59%), eggs (56.7%), other oils (49.5%), pasta products (43.1%) and sugar (40.3%).

Compared with June, the consumer price index was also influenced the most by housing and food-related price changes. Electricity that reached homes was 15% and gas 22.5% more expensive. 

The price increases of food and non-alcoholic beverages accounted for a fifth of the total increase. Accommodation services were 16.5% more expensive. Gasoline was 5.2% and diesel fuel 2.9% cheaper than in June.

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