Estonia's annual inflation rate increased to an over 6-1/2 year high of 4.4 percent in October of 2018 from 3.7 percent in September. Prices rose faster for: transport (10.1 pct vs 5.1 pct in September); housing (7.0 percent vs 6.8 pct); clothing (1.5 pct vs 1.2 pct); recreation and culture (3.5 pct vs 2.9 pct), and miscellaneous goods & services (3.9 pct vs 3.4 pct). Meantime, inflation eased for both food and non-alcoholic beverages (2.8 pct vs 3.5 pct in September) and household goods (0.9 pct vs 1.3 pct). On a monthly basis, consumer prices went up 0.5 percent, after being flat in the prior month. Inflation Rate in Estonia averaged 3.38 percent from 1999 until 2018, 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 2.90 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 2.80 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.