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Financial News: Estonia Consumer Prices Continue To Decline

Estonia Consumer Prices Continue To Decline

11/06/2020 - 02:36:00 (RTTNews)

(RTTNews) - Estonia's consumer prices continued to decline in October, data from Statistics Estonia showed on Friday.

The consumer price index fell 1.5 percent year-on-year in October, following a 1.1 percent decline in September. This was the highest since May, when prices fell 1.7 percent.

Compared to the previous year, the consumer price index was affected the most by the decline in price of motor fuel and plane tickets, Viktoria Trasanov, leading analyst at Statistics Estonia, said.

Diesel fuel prices dropped 28.3 percent and gasoline prices fell 8.3 percent.

"Plane tickets bought for October were 42 percent cheaper than last year," Trasanov added.

Prices for transportation decreased 9.2 percent annually in October and those of housing fell 3.5 percent.

Prices for clothing and footwear fell 0.8 percent. Prices for hotels, cafes and restaurants, and communications decined 2.5 percent and 2.1 percent, respectively.

On a monthly basis, consumer prices fell 0.5 percent in October, following a 0.3 percent decline in the previous month.

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