Housing costs lead jump in inflation

  • 2012-05-10
  • From wire reports

TALLINN - Statistics Estonia data show the change of the consumer price index was 0.3 percent in April 2012 compared to March, and 4.0 percent compared to April of the previous year, reports LETA. Goods were 3.0 percent and services 5.9 percent more expensive compared to April 2011.
Regulated prices of goods and services have risen by 10.9 percent and non-regulated prices by 1.7 percent compared to April of the previous year.

Compared to April 2011, the index was mainly influenced by housing expenditures, which gave almost a half of the total increase. 13.7 percent more expensive motor fuel gave nearly a fifth of the total increase. Compared to April of the previous year, of food products, the price of eggs (45 percent) and smoked and salted fish (14 percent) have increased the most. In April 2012, potatoes were 62 percent and fresh vegetables 20 percent cheaper than a year earlier.

In April the price of eggs reached the highest level of the past years. Looking back at the last five years, the previous peak was in March 2008. After that the prices decreased, then slightly increased in the middle of 2010, then decreased again and remained at a relatively low level with small rises and falls until the beginning of 2012, when a fast price increase began. Compared to the previous peak in March 2008, eggs were 12 percent more expensive in April 2012.

In April compared to March, the consumer price index was mainly influenced by the price increase of food and motor fuel, which each gave more than a third of the total increase. The food index was mainly influenced by the 22.6 percent price increase of eggs, 3.9 percent price decrease of vegetables and 1.5 percent price increase of meat and meat products. Motor fuel was 1.8 percent more expensive than in the previous month. The bigger changes occurred also in the price of paprika (down 28 percent) and carrots (up 18 percent).