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Financial News: Estonia Inflation Accelerates Further In June

Estonia Inflation Accelerates Further In June

07/07/2022 - 04:54:00 (RTTNews)

(RTTNews) - Estonia's consumer price inflation accelerated further to reach a new record high in June, largely driven by higher costs for housing and transport, figures from Statistics Estonia showed on Thursday.

Consumer prices climbed 21.9 percent yearly in June, following a 20.0 percent increase in May.

Housing costs alone grew 64.0 percent annually in June due to increased energy prices.

Transport charges were 32.1 percent higher in June compared to last year amid soaring fuel prices.

Prices for food and non-alcoholic beverages rose 19.1 percent and those for household goods gained 13.7 percent.

Cost of goods increased 17.9 percent annually and that of services grew 29.7 percent from the previous year.

On a monthly basis, consumer prices moved up 2.7 percent in June, following a 1.9 percent rise in the previous month.

The biggest monthly impact came from the fuel-related price increases. Petrol was 9.9 percent and diesel fuel 8.4 percent more expensive compared to the prior month.

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