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Financial News: Estonia Inflation Increases In June

Estonia Inflation Increases In June

07/07/2022 - 06:06:00 (RTTNews)

(RTTNews) - Estonia's consumer price inflation increased further in June, driven mainly by higher housing-related prices, data from Statistics Estonia showed on Thursday.

The consumer price index increased 21.9 percent year-on-year in June, following a 20.0 percent rise in May.

Cost of goods grew 17.9 percent annually in June and that of services gained 29.7 percent.

"Compared to June 2021, the consumer price index was affected the most by housing-related price changes, which contributed over 40 percent of the total rise in the index," Viktoria Trasanov, leading analyst at Statistics Estonia, said.

Electricity costs for homes advanced 129.6 percent, heat energy prices surged 62.7 percent, pipeline gas prices grew 228.3 percent, and solid fuels were 77.3 percent more expensive, the analyst said.

Housing costs increased 64.0 percent yearly in June and prices for transport rose 32.1 percent. Prices for food and non-alcoholic beverages, and hotels, cafes and restaurants grew by 19.2 percent and 19.4 percent, respectively.

On a monthly basis, consumer prices rose 2.7 percent in June, following a 1.9 percent increase in the prior month.

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