Financial News: Estonia Inflation Eases To 2.2%, Lowest In Over

Estonia Inflation Eases To 2.2%, Lowest In Over 5 Years

(RTTNews) - Estonia's consumer price inflation moderated slightly in July to the lowest level in more than five years, preliminary figures from Statistics Estonia showed on Friday.

Consumer prices climbed 2.2 percent yearly in July, slower than the 2.3 percent rise in June. Moreover, this was the weakest inflation rate since April 2021, when prices rose 1.9 percent.

"Although the prices of housing, transport, and alcohol and tobacco have gone up over the year, the rise in the index is being held back by the cheaper prices of food and non-alcoholic beverages," Lauri Veski, the Consumer Price Statistics Service Manager at Statistics Estonia, said.

Housing costs grew 8.3 percent from last year, and transport charges were 5.4 percent more expensive due to higher fuel costs. On the other hand, prices for food and non-alcoholic beverages dropped 1.6 percent, and clothing and footwear costs were 3.1 percent cheaper.

On a monthly basis, consumer prices rebounded 0.5 percent after falling 0.5 percent in June.

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