Estonia's annual inflation rate declined to 2.4 percent in June 2019 from 3.1 percent in the previous month. This was the lowest inflation rate since March, as inflation slowed for housing (2.9 percent vs 5.9 percent in May); food & non-alcoholic beverages (3.1 percent from 3.3 percent), and household goods (1.7 percent vs 3.0 percent). In addition, transport prices fell (-0.2 percent vs 2.6 percent), due to a drop in petrol prices (-1 percent from 4.4 percent). On the other hand, prices increased faster for both miscellaneous goods & services (2.5 percent vs 2.0 percent) and recreation and culture (6.0 percent vs 5.7 percent) while clothing prices rebounded (0.8 percent vs -0.8 percent). On a monthly basis, consumer prices went up 0.2 percent, the same pace as in the prior month. Inflation Rate in Estonia averaged 3.37 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 2.40 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 2.30 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.