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Financial News: Estonia Consumer Prices Fall Further In September

Estonia Consumer Prices Fall Further In September

10/07/2020 - 06:40:00 (RTTNews)

(RTTNews) - Estonia's consumer prices decreased for a sixth month in a row in September, data from Statistics Estonia showed on Wednesday.

The consumer price index fell 1.1 percent year-on-year in September, following a 0.9 percent decline in August and July.

"Compared to September 2019, the consumer price index was affected the most by price decreases of diesel fuel and petrol, which were respectively 26 percent and 7.8 percent cheaper," Viktoria Trasanov, leading analyst at Statistics Estonia, said.

"Another significant contributor to the index change was housing services, as electricity that reached homes was 9 percent cheaper than last year," Trasanov said.

Prices for flight tickets bought for September and accommodation services were nearly 23.0 percent cheaper.

Transport cost declined 7.4 percent yearly in September and communication cost fell 2.1 percent. Prices for housing and hotels, cafes and restaurant decreased by 3.7 percent and 2.9 percent, respectively.

The consumer prices fell 0.3 percent month-on-month in September, after a 0.6 percent rise in the previous month.

The monthly decline was driven the most by fall in the prices of food, and end of sales of clothing and footwear, the agency said.

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