Consumer prices in Estonia dropped 1.7% year-on-year in May 2020, after a 0.8% fall in the previous month. It was the second straight month of decline in consumer prices and the steepest since December 2009, as transport prices fell faster (-9.6% vs -6.7%), mainly due to petrol (-18% vs -12.4%) and diesel fuel (-26.8% -8.8%). Also, prices of housing fell more (-6.3% vs -4.9%) while those of clothing and footwear prices declined (-1.1%, after a flat reading in April). In addition, prices rose softer for food & non-alcoholic beverages (2.5% vs 3.1%); miscellaneous goods & services (0.4% vs 1.1%) and household goods prices (1.2% vs 1.5%). By contrast, prices of recreation and culture increased faster (4.6% vs 3.9%). On a monthly basis, consumer prices fell by 0.7 percent, after a 0.4 percent drop in April.
Inflation Rate in Estonia averaged 3.27 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 June of 2020.
Inflation Rate in Estonia is expected to be -0.20 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 3.20 percent in 2021 and 2.20 percent in 2022, according to our econometric models.