Consumer prices in Estonia declined 1.1% year-on-year in September of 2020, the most since May, after a 0.9 percent fall in the previous month. It was the sixth consecutive month of deflation, as transport prices fell further (-7.4% vs -6.8% in August), mainly due to petrol (-7.8% vs -6.9%) and diesel fuel (-26% -24.2%). Also, prices declined for housing (-3.7% vs -4.5%); hotels, cafes and restaurants (-2.9 percent vs -3.4 percent) and communications (-2.1% vs -1.9%). In addition, food & non-alcoholic beverages inflation dropped to a near four-year low of 1.3 percent in September from 2.3 percent in August. Also, clothing and footwear inflation eased (1.0% vs 2.4%). Meantime, prices continued to rise for both recreation and culture (2.3% vs 2.1%) and miscellaneous goods & services (1.2% vs 0.8%), while household goods prices were unchanged (vs -0.4%). On a monthly basis, consumer prices dropped 0.3 percent, after a 0.6 percent gain in August.
Inflation Rate in Estonia averaged 3.21 percent from 1999 until 2020, 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. 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 October of 2020.
Inflation Rate in Estonia is expected to be 1.00 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 1.50 in 12 months time. In the long-term, the Estonia Inflation Rate is projected to trend around 2.00 percent in 2021 and 2.20 percent in 2022, according to our econometric models.