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Financial News: Estonia Inflation Rises In May

Estonia Inflation Rises In May

06/07/2021 - 02:54:00 (RTTNews)

(RTTNews) - Estonia's consumer prices increased in May, data from Statistics Estonia showed on Monday.

The consumer price index grew 3.6 percent year-on-year in May, following a 1.9 percent rise in April.

The latest inflation was mainly due to higher prices of motor fuels. Diesel fuel prices and petrol prices rose by 20.2 percent, each.

"Here, it is important to note that the lowering of several excise duties in May last year no longer had an impact on the year-on-year comparison," Viktoria Trasanov, leading analyst at Statistics Estonia, said.

On a monthly basis, consumer prices gained 0.9 percent in May, following a 0.4 percent rise in the previous month.

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