According to data provided by Statistics Estonia, the consumer price index (CPI) increased by 2.7% between May and June and by 21.9% compared with June 2021. Both goods and services were more expensive this June than during the same month last year, with a rise of 17.9% and 29.7% respectively.
Viktoria Trasanov, leading analyst at Statistics Estonia, said that the increases in June’s consumer price index over the last year was the most affected by housing-related price changes, which contributed over 40% of the total rise in the index.
Trasanov explained that the electricity reaching people’s homes was 129.6% more expensive in June than a year ago. June additionally saw a 62.7% increase in the cost of heat energy and a 228.3% rise in gas prices. Solid fuels were also 77.3% more expensive in June than twelve months earlier.
Price rises related to transport, as well as food and non-alcoholic beverages, together accounted for a fifth of the total increase of the index between May and June. Petrol prices were up by 51.1% and diesel fuel 67.3% more expensive than in June 2021.
When it comes to food products, potato prices were up by 111.5% YoY, with big increases also affecting eggs (+61.9%), fresh fish (+57.6%), flour and cereals (+54.8%) and spices (+53.4%).
Between May and June, the increased fuel-related prices had the biggest impact on the CPI, with petrol costs up by 9.9% and diesel 8.4% more expensive. Electricity prices also rose by 11.3% and solid fuels were 6% more expensive in June than in May. (ERR/Business World Magazine)
