According to the information released by Statistics Estonia on August 7, the consumer price index (CPI) in July fell by 0.1% MoM, but increased by 2.1% YoY.
Goods were 2% and services 2.2% more expensive in July. Regulated prices of goods and services fell by 1.1%, while non-regulated prices increased by 3%.
Compared to July 2018 the CPI was affected the most by food and non-alcoholic beverages, which contributed nearly half of the total increase of the index. Half of this increase was due to 24% more expensive vegetables. The biggest on-year price increases were seen on potatoes (94%), fresh vegetables (20%) and rice (11%); the biggest decrease was seen in the prices of hard liquor and liqueurs (10%).
Alcoholic beverages were 5.7%, gasoline 1.7% and diesel fuel 0.2% cheaper.
Compared to the previous month the CPI in July was affected the most by seasonal sales of clothing and footwear. A significant impact on the index was also attributable to food and non-alcoholic beverages, as the prices of fresh vegetables decreased by 11.7%, while fruit and potato prices increased by 3.5% and 20.1%, respectively. Alcoholic beverages, meanwhile, were 3% cheaper. (ERR/Business World Magazine)
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