According to Statistics Estonia, the change of the consumer price index in August 2016 was 0.1% compared to July 2016 and 0.3% compared to August of the previous year.
Compared to August 2015, goods were 1.0% more expensive and services 0.9% cheaper. Regulated prices of goods and services have risen by 0.7% and non-regulated prices by 0.3% compared to August of the previous year.
Compared to August 2015, the consumer price index was influenced the most by both alcoholic beverages and tobacco having become 7.8% more expensive, which was mainly due to the implementation of new excise duty rates in 2016. Electricity, heat energy and fuels also had a bigger impact on the index, as they became 5.2% cheaper, with 9.5% cheaper heat energy accounting for three quarters of the drop. Compared to the period a year ago, diesel fuel was 3.2% more expensive and petrol 5.4% cheaper. Compared to August 2015, of food products, the prices of low-fat milk (12%) and whole milk (9%) have decreased the most, whereas the prices of processed fruit (27%) and sugar (24%) have increased the most.
In August compared to July, the consumer price index was influenced the most by food having become 1.4% cheaper as a result of vegetables having undergone a 12% and fruit a 6% seasonal price drop. The widespread sales of clothing and footwear having ended and 4.8% more expensive tobacco products also had a bigger impact on the index.
With one minor exception (+0.1% in May 2015), the 12-month change in the consumer price index was negative from June 2014 until July 2016.
|Commodity group||August 2015 – August 2016, %||July 2016 – August 2016, %|
|Food and non-alcoholic beverages||0.5||-1.4|
|Alcoholic beverages and tobacco||7.8||0.5|
|Clothing and footwear||5.3||4.3|
|Recreation and culture||1.1||0.7|
|Hotels, cafés and restaurants||3.7||-0.1|
|Miscellaneous goods and services||3.0||0.8|
Source: Statistics Estonia
Filed under: Retail |