Estonia's annual inflation rate declined to a 27-month low of 2.0 percent in February 2019 from 2.7 percent in the previous month. Inflation slowed for: housing (5.5 pct vs 8.8 pct in January); food (1.6 pct from 1.7 pct); household goods (1.6 pct vs 2.1 pct); miscellaneous goods & services (2.9 pct vs 3.7 pct), and recreation and culture (3.7 pct vs 5.3 pct). In addition, prices fell for clothing (-0.3 pct vs 2.6 pct) while transport prices continued to drop (-1.0 pct vs -2.8 pct). On a monthly basis, consumer prices rose 0.2 percent, after a 0.2 percent drop in the prior month. Inflation Rate in Estonia averaged 3.40 percent from 1999 until 2019, 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.