Estonian inflation picks up to 3.5% y/y in January

By bne IntelliNews February 8, 2018

Estonia's consumer price index (CPI) growth accelerated to 3.5% in annual terms in January from 3.4% y/y the previous month, data from Statistics Estonia showed on February 7.

Estonia begins 2018 with an inflation rate sustained at the level seen throughout 2017, when overall price growth came in at 3.4%, a major pick up compared to inflation of just 0.1% in 2016.

The annual growth in January was driven by rising prices of food, which expanded 5.7% y/y. Growing prices of alcohol and tobacco also contributed with a hike of 11.3% y/y, as did the prices in the transport segment, which grew 3.6% on the year, including an annual growth of 12.8% in petrol prices and a 12.1% y/y expansion in diesel fuel. Prices in the housing segment grew 3% y/y.

Overall, price growth of goods came in at 4.4% y/y in January, while services were 1.8% more expensive than in January 2017.

January saw the Estonian CPI in positive territory for the eighteenth consecutive month after deflation dominated between May 2015 and July 2016. In monthly terms, consumer prices grew 0.4% in January, compared to a fall of 0.3% m/m the previous month.

CPI is expected to expand 3.1% in 2018, according to the European Commission’s forecast that appeared on February 7. The most recent forecast from Eesti Pank is 3.2%.

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Data

Polish inflation eases to 1.8% y/y in October

Inflation remains subdued with Poland’s Monetary Policy Council unlikely to consider any policy change in the immediate future, even though some slightly hawkish undertones were present at the council’s last meeting.

Polish growth defies predictions of slowdown in Q3

The result is a surprise to the upside, as consensus predicted a slowdown in the second half of the year after dynamic expansion in the first six months.

Romania’s GDP growth accelerates marginally to 4.3% y/y in Q3

The Q3 growth is close to the most optimistic independent projections, but not supportive of the government’s full-year 4.5% overall growth forecast.

Bulgaria’s GDP growth slows to 3% y/y in 3Q18

In 2016 and 2017 Bulgaria’s GDP increased by a real 3.4% and 3.6%, respectively, and IFIs expect growth of above 3% for full year 2018.

Russia’s growth slows to 1.3% in 3Q18

GDP growth declined from 1.9% y/y the previous quarter due to the high base effect from last year’s record breaking harvest.

Polish inflation eases to 1.8% y/y in October

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Estonian inflation picks up to 3.5% y/y in January

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Data

Polish inflation eases to 1.8% y/y in October

Inflation remains subdued with Poland’s Monetary Policy Council unlikely to consider any policy change in the immediate future, even though some slightly hawkish undertones were present at the council’s last meeting.

Polish growth defies predictions of slowdown in Q3

The result is a surprise to the upside, as consensus predicted a slowdown in the second half of the year after dynamic expansion in the first six months.

Romania’s GDP growth accelerates marginally to 4.3% y/y in Q3

The Q3 growth is close to the most optimistic independent projections, but not supportive of the government’s full-year 4.5% overall growth forecast.

Bulgaria’s GDP growth slows to 3% y/y in 3Q18

In 2016 and 2017 Bulgaria’s GDP increased by a real 3.4% and 3.6%, respectively, and IFIs expect growth of above 3% for full year 2018.

Russia’s growth slows to 1.3% in 3Q18

GDP growth declined from 1.9% y/y the previous quarter due to the high base effect from last year’s record breaking harvest.

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Estonian inflation picks up to 3.5% y/y in January

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Data

Inflation remains subdued with Poland’s Monetary Policy Council unlikely to consider any policy change in the immediate future, even though some slightly hawkish undertones were present at the council’s last meeting.

The result is a surprise to the upside, as consensus predicted a slowdown in the second half of the year after dynamic expansion in the first six months.

The Q3 growth is close to the most optimistic independent projections, but not supportive of the government’s full-year 4.5% overall growth forecast.

In 2016 and 2017 Bulgaria’s GDP increased by a real 3.4% and 3.6%, respectively, and IFIs expect growth of above 3% for full year 2018.

GDP growth declined from 1.9% y/y the previous quarter due to the high base effect from last year’s record breaking harvest.

Newsletters

Most Read

Selected articles from our premium news/views wire IntelliNews Pro

Follow Us On

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