Estonia's annual inflation rate came in at 3.4 percent in December 2018, unchanged from the previous month and remaining the lowest figure in six months. Food inflation edged up to 1.8 percent from 1.7 percent in November. Also, cost increased faster for: housing (9.2 pct vs 8.6 pct); household goods (1.9 pct vs 1.3 pct); recreation and culture (7.1 pct vs 4.4 pct); and miscellaneous goods & services ( 2.9 pc vs 2.8 pct). At the same time, inflation slowed markedly for: transport (0.5 pct vs 2.5 pct), and clothing (1.2 pct vs 2.7 pct). On a monthly basis, consumer prices fell 0.3 percent, after a 0.5 percent drop in the prior month. Inflation Rate in Estonia averaged 3.38 percent from 1999 until 2018, reaching an all time high of 11.44 percent in June of 2008 and a record low of -2.17 percent in October of 2009.
Inflation Rate in Estonia is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Estonia to stand at 2.20 in 12 months time. In the long-term, the Estonia Inflation Rate is projected to trend around 2.90 percent in 2020, according to our econometric models.