Estonian Feb inflation edges up to 11.3% y/y

Figures

Costs for food, fuel and housing pushed up Estonia’s rate of inflation to 11.3% year-on-year in February, the highest since April 1998’s 12.6%, the statistics office said on Friday.

The February monthly rise in prices of 0.4% compared with a 2.2% gain in January. A survey of three analysts had produced a median forecast of 11.4% for the annual change in February after 11.0% in January. “The index was mainly influenced by an increase in the prices of food, an increase in expenditure on housing and an increase in the price of motor fuel,” the office said in a statement. The monthly rate was mainly influenced by food prices, alcoholic beverages, health services, eating out, and fruits, as well as by a decrease in the price of motor fuel. In the year, food prices rose 17.1%, housing costs were up 15.2%, catering services from restaurants and cafes rose 15.8% and transport costs were up 14.0%, the office said.

Estonia increased state excise duties on heating costs during 2007 and on fuel from January 1 2008, and this, with the global rise in food and energy prices has kept a strong inflationary pressure. The central bank and Finance Ministry both say price growth is expected to slow in the second half of 2008. (Reuters)

ADVERTISEMENT

Business, consumer confidence improves - Századvég Analysis

Business, consumer confidence improves - Századvég

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

Martina Cifer joins Avison Young Hungary Appointments

Martina Cifer joins Avison Young Hungary

BFK developing regional cycling strategy City

BFK developing regional cycling strategy

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.