Estonia Inflation Rate Slows in December

Figures

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Estonia's consumer price inflation accelerated sharply in 2022, mainly due to higher housing-related prices, while price growth slowed in December, preliminary figures from Statistics Estonia (SE) showed on Friday.

Consumer price inflation surged to 19.4% in 2022 from 4.6% in 2021.

The latest growth in inflation was mainly influenced by higher housing-related prices in 2022, which accounted for two-fifths of the total increase, Viktoria Trasanov, the lead analyst of the statistics agency, said.

"Electricity reaching homes became more expensive by 94.4% year-on-year, gas by 123.8%, solid fuel by 73.5%, and heat energy by 49.1%," Trasanov added.

Prices for food and non-alcoholic beverages grew 19.9% in 2022 and transportation costs climbed 22.8%.

Housing prices advanced 50.8% and prices for eating out and accommodation rose 15.0%. Meanwhile, inflation eased to 17.6% year-on-year in December from 21.3% in November. On a monthly basis, consumer prices fell 0.1%, after a 0.9% rise in November. 

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