Estonia Inflation Rate Eases in February

Figures

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Estonia's annual inflation rate slowed to 17.6% in February, from 18.6% in the previous month, data from Statistics Estonia showed on Tuesday.

Prices eased for transport (8.9% vs 12.1% in January), food and non-alcoholic beverages (25.2% vs 27.4%), household goods (16.5% vs 18.3%), and alcohol and tobacco (7.8% vs 8.1%).

Meanwhile, costs accelerated mainly for clothing and footwear (12.3% vs 11.1%); housing (32.4% vs 31.6%), led by solid fuels, electricity, heat energy and gas; health (8.8% vs 8.1%) and education (9% vs 8.5%).

On a monthly basis, consumer prices advanced 0.6%, following a 0.8% gain in January.

A separate report from the Tallinn-based agency showed that Estonia's average gross wages and salaries grew 8.9% to EUR 1.685 billion in 2022, after a 6.9% gain in 2021. Data showed that the average real wages, however, declined 8.8% in 2022 compared to the previous year.

The average gross wages and salaries were 9.2% higher than the corresponding period last year during the fourth quarter. Average real wages fell 9.3% annually.

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