According to information released by Statistics Estonia on September 7, the consumer price index in August increased by 0.4% compared to July and by 3.9% compared to August 2016.
Compared to August of last year, goods were 3.8% and services 4.1% more expensive. Regulated prices of goods and services also rose by 7.2% and non-regulated prices by 3% compared to last August.
Compared to August 2016, the consumer price index was affected the most by a 6.4% more expensive food and non-alcoholic beverages, which contributed more than one third of the total increase of the index. One third of this increase in turn was contributed by 13.2% more expensive milk, dairy products and eggs. Of food products, the biggest price increases were seen for butter (44%), low-fat milk (25%) and olive oil (25%).
Alcoholic beverages and tobacco, meanwhile, accounted for one fifth of the total increase of the index, three-fifths of which were contributed by 28% more expensive beer and one-fifth by 8.6% more expensive tobacco products.
The increase in the price of motor fuel also had a greater impact on the index, with gasoline and diesel fuel costing 9.5% and 10.2% more, respectively, than last August.
The last time the change in the consumer price index was greater than 3.9% YoY was in October 2012, which had seen a 4.1% increase.
Compared to July, the consumer price index in August was affected most by housing-related costs. Domestically consumed electricity was 2.4% and rent 3.5% more expensive, while the conclusion of seasonal clothing and footwear sales and 9% less expensive fresh fruit also had a greater impact on the change in index. (ERR/Business World Magazine)