Estonian CPI at 11.1%

  • 2008-08-07
  • By Mike Collier
TALLINN - Statistics Estonia has released its consumer price inflation (CPI) figures for July, which reveal inflation decelerated marginally to 11.1% y/y (0.7 % m/m) in July from 11.4% y/y in June.

Compared to July of the previous year, the change of consumer price index has stayed around 11%.

The index was mainly influenced by the price increase of food, higher prices of motor fuel accompanied by the increase in the prices of transport services, and by an increase in expenditures on housing.

On average, the prices of goods and services in July were 0.7% higher than in June.The consumer price index was mainly influenced by the increase in the prices of alcoholic beverages and tobacco products (up 5% m/m)proceeding from the change in the rates of excise duties; by the increase of expenditures on housing, of which the increased prices of electricity gave more than a half; by lower prices of vegetables and by special sales of clothing and footwear.