Estonia’s annual inflation rate accelerated to a new peak of 24.8 percent in August 2022 from 22.8 percent a month earlier, with prices of food and non-alcoholic beverages rising the most since July 1996 (21.4% vs 19.7% in July), mainly driven by sugar, flour of cereals, spices, other edible oils, and eggs. Additional upward pressures also came from cost of alcohol and tobacco (6.1% vs (6.3%); clothing (8.7% vs 5.0%); housing (82.7% vs 68.2%), led by electricity, heat energy, gas, and solid fuels; household goods (15.4% vs 14.3%); health (7.5% vs 7.3%); transport (24.3% vs 28.7%); recreation & culture (11.9% vs 11.9%); education (2.6% vs 2.5%); hotels, cafes (19.2% vs 22.1%); and miscellaneous goods & services (12.5% vs 10.5%). At the same time, cost of communications fell at a softer rate (-2.5% vs -3%). On a monthly basis, consumer prices went up 2.3 percent in August, after gaining 1.9 percent in July. source: Statistics Estonia
Inflation Rate in Estonia averaged 3.65 percent from 1999 until 2022, reaching an all time high of 24.80 percent in August of 2022 and a record low of -2.17 percent in October of 2009. This page provides - Estonia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Estonia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.
Inflation Rate in Estonia is expected to be 20.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Estonia Inflation Rate is projected to trend around 3.00 percent in 2023 and 2.20 percent in 2024, according to our econometric models.