Change in consumer prices in May

According to Statistics Estonia, the change of the consumer price index in May 2015 was 0.2% compared to April 2015 and 0.1% compared to May of the previous year.

Compared to May 2014, goods were 0.4% cheaper and services 0.8% more expensive. Regulated prices of goods and services stayed at the same level and non-regulated prices have risen by 0.1 % compared to May of the previous year.

Compared to May 2014, the consumer price index was influenced the most by motor fuel, which was 8.1% cheaper this year. Alcoholic beverages also had a bigger impact on the index, as their prices increased by 5.4% compared to May 2014. Compared to May of the previous year, of food products, the prices of dried fruit and nuts (33%) and coffee (19%) have increased the most, while the prices of potatoes (25%) and sugar (24%) have decreased the most.

May saw the end of the 11-month period, when the annual change of the consumer price index remained under zero. The previous time that the change of the consumer price index compared to the same month of the previous year was over zero was in May 2014, when it was also 0.1%.

In May compared to April, the consumer price index was influenced the most by housing, as the electricity that arrived at homes was 1.7% more expensive and rents increased by 3.6%.

2.1% more expensive motor fuel, 0.5% cheaper food and non-alcoholic beverages, and 1.4% cheaper alcoholic beverages, the prices of which decreased due to discounts, also had a bigger impact on the index. Compared to April, the biggest rise occurred in the prices of liquid fuel, which increased 47% due to the implementation of the new rates of excise duty.

Change of the consumer price index by commodity groups, May 2015
Commodity group May 2014 – May 2015, % April 2015 – May 2015, %
TOTAL 0.1 0.2
Food and non-alcoholic beverages -0.2 -0.5
Alcoholic beverages and tobacco 4.1 -1.2
Clothing and footwear 2.1 0.1
Housing 0.2 0.8
Household goods 0.7 -0.2
Health 3.1 0.3
Transport -4.8 0.8
Communications 1.0 0.2
Recreation and culture 1.3 0.9
Education -20.7 0.0
Hotels, cafés and restaurants 3.7 2.2
Miscellaneous goods and services 3.3 0.1

Source: Statistics Estonia

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