The Consumer Price Index increased by 1.8% in November compared to November 2018, figures from Statistics Estonia showed.
The newly released figures showed the change of the consumer price index in November was -0.2% compared to October and 1.8% compared to November 2018.
Compared to November 2018, goods were 1.1% and services 3.1% more expensive. Regulated prices of goods and services fell by 1.9%, while non-regulated prices rose by 2.9%.
The consumer price index was affected the most by the price increase of food and non-alcoholic beverages. The biggest impact on the latter came from 4.9% more expensive meat products and 5.6% more expensive flour products.
Alcoholic beverages were 7.7% and diesel fuel 2.1% cheaper, while petrol was 0.1% more expensive.
The biggest price increases for food were for rice (16%) and crisps (11%) and the biggest price decrease for spirits and liqueurs (11%) and potatoes (13%).
Compared to October, the consumer price index was affected the most by the price decrease of plane tickets. Plane tickets bought in November were 26.7% cheaper than tickets purchased in October. Food also had a significant impact – the prices of meat products increased by 0.9% and the prices of fish products by 3.6%.
SEB analyst Mihkel Nestor said that the relatively low inflation indicator in Estonia in November reflected the impact of the drop in energy prices and the excise duty reform.
Nestor noted that, on the other hand, food prices, which had a major impact on household budgets, increased quite substantially, by nearly 3%.
He said the consumer price index was still reflecting rapid wage growth.
“Thus, prices for entertainment services have risen at a pace of more than 7% in recent months,” he added.
The Estonian consumer price index for November was 0.2% lower than the index for October and 1.8% higher than the index for November 2018, Statistics Estonia said. (ERR/Business World Magazine)
