Estonian CPI starts 2017 with strong rise

Estonian CPI starts 2017 with strong rise
By bne IntelliNews February 7, 2017

Estonia's consumer price index (CPI) grew 2.7% in annual terms in January, data from Statistics Estonia showed on February 7.

The reading shows price growth in the first month of 2017 was at its highest since August 2013. As in many other economies in the region, the gain is being driven by fast-expanding prices of motor fuel and food.
 
January saw CPI in positive territory for a sixth consecutive month, after deflation dominated between May 2015 and July 2016. In monthly terms, consumer prices gained 0.4%, largely due to growing prices of food as well as in the housing sector. 

The annual increase in January was primarily driven by rising prices of motor fuels, Statistics Estonia notes. Prices in transport rose 5% y/y overall, while within the segment, petrol prices increased 19.4% y/y and diesel fuel became 26.1% more expensive. Food prices grew 3.7% overall.

Estonian CPI finished last year at just 0.1%, below predictions of 0.5% from the International Monetary Fund or the 0.8% forecast by the European Commission.

In line with forecasts that global inflation will return with a bang in 2017, Estonian's are likely to see a serious acceleration in prices this year. The pace is set to be even higher in Estonia than the average for the Eurozone, suggests Eesti Pank, primarily because of rises in excise duties. The central bank plots average inflation for 2017 at 2.8%.

Data

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss