Last year, the consumer price index decreased by 0.4% compared to the average of 2019, data from Statistics Estonia showed. Fuel prices declined the most, while fresh fruit prices rose.
Viktoria Trasanov, leading analyst at Statistics Estonia, said motor fuel had the biggest impact on the annual change of the consumer price index, as diesel fuel was 17% and petrol 6.4% cheaper.
“A significant impact on the change of the index also came from the 10.5% price decrease of electricity that reached homes and from the 2.2% increase in food prices. The main contributors to the latter were 17% more expensive fresh fruit and 5.4% more expensive meat and meat products. Potatoes were 23% cheaper and fresh vegetables 12% cheaper,” said Trasanov.
In December 2020, the consumer price index fell by 0.8% compared to December 2019 and remained on the same level compared to November 2020. Compared to December 2019, goods were 1.6% cheaper and services 0.6% more expensive.
Compared to December 2019, the consumer price index was again affected the most by the price decrease of motor fuel.
The prices of diesel fuel fell by 25.7% and the prices of petrol by 12.5%. Of food products, the biggest increase occurred in the prices of flour mixes (17%), crisps (12%) and baby food (11%), while the biggest decrease was recorded in the prices of fresh fish (26%), potatoes (18%), olive oil (13%) and butter (12%).
Compared to November 2020, the consumer price index of December 2020 was affected the most by the slight price increase of transport services and electricity that reached homes, by the slightly cheaper prices of food and non-alcoholic beverages and by the start of sales on clothing and footwear. (ERR/Business World Magazine)