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Financial News: Estonia Consumer Prices Fall For Second Month

Estonia Consumer Prices Fall For Second Month

06/05/2020 - 02:45:00 (RTTNews)

(RTTNews) - Estonia's consumer prices declined for the second straight month in May, data from Statistics Estonia showed on Friday.

The consumer price index fell 1.7 percent year-on-year in May, following a 0.8 percent decrease in April.

"The last time the change of the consumer price index in comparison with the same month of the previous year was so substantial was more than ten years ago in December 2009, when it was also -1.7 percent," Statistics Estonia analyst Viktoria Trasanov, said.

Consumer prices were affected the most by price decrease in motor fuel. Petrol decreased 18.0 percent and diesel fuel was 26.8 percent cheaper.

Electricity and energy prices together declined 9.3 percent, while prices of food and non-alcoholic beverages grew 2.5 percent.

On a monthly basis, consumer prices fell 0.7 percent in May, following a 0.4 percent decline in the previous month.

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