The prices of milk, dairy products and eggs increased over 13 pct in a year

According to Statistics Estonia, the change of the consumer price index in August 2017 was 0.4% compared to July 2017 and 3.9% compared to August of the previous year.

Compared to August 2016, goods were 3.8% and services 4.1% more expensive. Regulated prices of goods and services have risen by 7.2% and non-regulated prices by 3.0% compared to August of the previous year.

Compared to August 2016, the consumer price index was affected the most by 6.4% more expensive food and non-alcoholic beverages, which contributed more than a third of the total increase of the index. A third of the latter was contributed by 13.2% more expensive milk, dairy products and eggs. Alcoholic beverages and tobacco accounted for a fifth of the total increase of the index, of which three-fifths were contributed by 28% more expensive beer and a fifth by 8.6% more expensive tobacco products. The price increase of motor fuel also had a greater impact on the index. Petrol was 9.5% and diesel fuel 10.2% more expensive than in August 2016. Of food products, the biggest price increases were seen for butter (44%), low-fat milk (25%) and olive oil (25%).

The previous time that the change of the consumer price index compared to the same month of the previous year was greater than 3.9% was in October 2012, when the change was 4.1%.

In August, compared to July, the consumer price index was affected the most by housing. Electricity that reached homes was 2.4% and rent for housing 3.5% more expensive. The ending of seasonal sales of clothing and footwear and 9% less expensive fresh fruit also had a greater impact on the index change.

Change of the consumer price index by commodity groups, August 2017
Commodity group August 2016 –
August 2017, %
July 2017 –
August 2017, %
TOTAL 3.9 0.4
Food and non-alcoholic beverages 6.4 -0.4
Alcoholic beverages and tobacco 11.1 1.5
Clothing and footwear -0.5 3.3
Housing 4.2 1.3
Household goods 0.3 0.6
Health 0.6 -1.1
Transport 4.8 0.3
Communications -5.6 0.0
Recreation and culture 1.5 -0.5
Education 4.7 0.0
Hotels, cafés and restaurants 6.8 -0.2
Miscellaneous goods and services 2.8 0.2

Statistics Estonia publishes the consumer price index on the 5th working day of each month, after the end of the reporting period. For the statistical activity “Consumer price index”, the main representative of public interest is the Ministry of Finance, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.

Source: Statistics Estonia

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The turnover of retail trade enterprises increased 5 pct in June

According to Statistics Estonia, in June 2017, the turnover of retail trade enterprises increased 5% at constant prices compared to June 2016. While in May turnover increased 1% compared to the same month of the previous year, in June growth accelerated.

In June 2017, the turnover of retail trade enterprises was 593.1 million euros.

The turnover growth of stores selling manufactured goods accelerated in June. While in May the turnover of these stores increased 5% compared to the same month of the previous year, in June the growth was 11%. Turnover increased in all economic activities. The increase was largest in stores selling via mail order or the Internet, with sales increasing nearly a third (32%) in year-over-year comparison. A higher than average increase in turnover occurred also in other specialised stores, selling mainly computers and their accessories, photography supplies, books, sports equipment, games and toys, flowers, plants, etc. (22%). In June, the turnover of stores selling pharmaceutical goods and cosmetics, which showed a decline in the previous months, resumed growth, increasing 5% compared to the same month of the previous year. After a decline in May, turnover increased also in stores selling textiles, clothing and footwear (6%) and in other non-specialized stores selling predominantly manufactured goods (e.g. department stores) (5%). In June, turnover growth continued also in stores selling household goods and appliances, hardware and building materials (7%) and in stores selling second-hand goods and in non-store retail sale (stalls, markets, direct sale) (2%).

The turnover of grocery stores stayed at the same level compared to June 2016.

The turnover of enterprises engaged in the retail sale of automotive fuel, which showed a decline in April and May, resumed growth in June, increasing 3% compared to June of the previous year.

Compared to the previous month, in June, the turnover of retail trade enterprises increased 2%. According to the seasonally and working-day adjusted data, the growth was 1%. In the six months of 2017 (January–June), the turnover of retail trade enterprises increased 2% compared to the corresponding period of the previous year.Turnover volume index of retail trade enterprises and its trend

The statistics are based on the VAT declaration data of the Estonian Tax and Customs Board. Statistics Estonia published the monthly summary in five working days. For the statistical activity “Economic indicators of trade enterprises”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia performs this statistical activity.

Source: Statistics Estonia

e-commerce purchases up by 25 pct in 2.Q

Individuals in Estonia made an average of 1.1 million cashless payments per day in the second quarter of 2017. The number of payments was 7% and the turnover 8% higher than it was at the same time last year.

75% of the cashless payments initiated by individuals were card payments. 819,000 card payments were made daily in the second quarter, 7% of them outside Estonia. Estonian residents used card payments in 184 countries in the second quarter, the most popular being Finland, Latvia, Russia, Sweden, Spain and the UK. People in Estonia are some of the greatest lovers of card payments in Europe, only surpassed by Denmark, the Netherlands, Finland, Sweden and the UK. The average size of a card payment made by an individual in Estonia was 15.4 euros in the second quarter, which is one of the smallest in Europe, probably because Estonia has not set a floor for the size of a card payment. Card payments made abroad were larger and averaged at 26.8 euros.

The daily average number of payment orders made by individuals in the second quarter was 250,000. Half of them were payments through an internet bank, and the other half were e-invoice standing orders and payment orders through a bank link. The number of e-invoice standing orders has not changed since the changeover from direct debits. In 2013, before the changeover to e-invoice standing orders, the average number of direct debits was 54,000 per day. By the second quarter of 2017, it had remained almost the same at 53,000 payments per day. Most payment orders are domestic, only 0.6% are made to foreign banks.

Figures illustrating the use of online stores stand out among other payment methods. Compared to the same time last year, the number of payment orders made through a bank link* has grown by more than 10% (it is now 50,000 payments per day). A bank link can only be used for domestic purchases. Estonian residents are becoming progressively more active in purchasing from foreign online stores. In the second quarter, individuals made 28,000 e-commerce card transactions every day, which is a 46% increase year-on-year. 91% of online purchases made with a card come from foreign online stores. Data from Omniva and Statistics Estonia confirm that Estonian people are ordering online more and more. Statistics Estonia data also show that in April and May, the sales revenue of stores that sell online or by post grew the most, 30% in a year, compared to the 6% sales revenue increase of retail stores. The largest retail chains in Estonia attest to the fact that e-commerce is growing fast, and most chains have opened or are planning to open their online store soon.

* A bank link is a payment method where an online store directs the customer to pay for a purchase in their internet bank using a pre-filled order.

Cashless payments initiated by individuals through Estonian banks in 2017 Q2 (daily average)
number of payments (thous.) incl. cross-border payments turnover of payments (million euros) incl. cross-border payments
Total of the payments made (A+B+F+G) 1 100 7% 45,7 9%
         incl. card payments (A) 819 7% 13,2 11%
         incl. payment orders (B) 250 1% 30,3 7%
                 internet bank payment orders  (C) 123 1% 17,9 7%
                 e-invoice standing orders (D) 53 0% 1,6 0%
                 bank link payment orders (E) 50 0% 1,4 0%
         incl. e-commerce card transactions (F) 28 91% 1,0 93%
         incl. other (G) 3 0% 1,2 0%
E-commerce transactions (E+F) 78 33% 2,4 38%

 

Number of cashless payments made by individuals

Source: Bank of Estonia

Author: Tiina Soosalu, Eesti Pank Payment and Settlement Systems Department

Cigarettes 14.6 pct more expensive than in 2016

According to Statistics Estonia, the change of the consumer price index in June 2017 was -0.1% compared to May 2017 and 2.9% compared to June of the previous year.

Compared to June 2016, goods were 3.2% and services 2.4% more expensive. Regulated prices of goods and services have risen by 3.6% and non-regulated prices by 2.7% compared to June of the previous year.

Compared to June 2016, the consumer price index was affected the most by the 6.6% more expensive food and non-alcoholic beverages, which contributed more than a half of the total growth of the index. Milk, dairy products and eggs were 10.1%, fruit 16.8% and sugar and confectionery 7.3% more expensive than a year earlier. Motor fuel contributed nearly a sixth of the total growth of the index. Compared to June 2016, petrol was 8.5% and diesel fuel 8.4% more expensive. A greater impact on the index was made also by the 14.6% more expensive tobacco products.

In June, compared to May, the consumer price index was affected the most by the seasonal sales of clothing and footwear that started in June and June discounts on alcoholic beverages. A greater impact on the change of the index was made also by the 8.1% more expensive fresh fruit and berries. In June, petrol was 0.5% and diesel fuel 1.1% less expensive than in May.

Change of the consumer price index by commodity groups, June 2017
Commodity group June 2016 – June 2017, % May 2017 – June 2017, %
TOTAL 2.9 -0.1
Food and non-alcoholic beverages 6.6 0.5
Alcoholic beverages and tobacco 4.6 -2.5
Clothing and footwear 0.4 -3.6
Housing 1.2 0.4
Household goods 0.7 0.0
Health 1.0 0.0
Transport 3.1 0.5
Communications -4.7 -0.5
Recreation and culture 0.3 0.2
Education 4.5 0.0
Hotels, cafés and restaurants 6.8 2.5
Miscellaneous goods and services 3.3 -0.4

Statistics Estonia publishes the consumer price index on the 5th working day of each month, after the end of the reporting period. For the statistical activity “Consumer price index”, the main representative of public interest is the Ministry of Finance, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.

Source: Statistics Estonia

Sales grew in online stores by 33 pct

According to Statistics Estonia, in May 2017, compared to May 2016, the turnover of retail trade enterprises increased 1% at constant prices. For the second month in succession, turnover has shown a stable one-percent growth compared to the same month of the previous year.

In May 2017, the turnover of retail trade enterprises was 586.3 million euros.

The turnover of stores selling manufactured goods increased 5% compared to May 2016. Turnover increased in four and decreased in three economic activities. Turnover increased the most in stores selling via mail order or the Internet, with sales increasing 33% in a year. Turnover increased also in other specialised stores, such as stores selling computers and their accessories, photography supplies, books, sports equipment, games and toys, flowers, plants etc.(19% growth), in stores selling second-hand goods and in non-store retail sale (stalls, markets, direct sale) (3% growth) and in stores selling household goods and appliances, hardware and building materials (2% growth). Compared to May of the previous year, turnover decreased in non-specialized stores selling predominantly manufactured goods (e.g. department stores), in stores selling textiles, clothing and footwear and in stores selling pharmaceutical goods and cosmetics.

The turnover of grocery stores decreased 1% compared to May 2016. The turnover fall in these stores was partly influenced by the acceleration in the price increase of food products.

The turnover of enterprises engaging in the retail sale of automotive fuel decreased 1% compared to May of the previous year.

Compared to the previous month, in May, the turnover of retail trade enterprises increased 9%. According to the seasonally and working-day adjusted data, turnover stayed at the same level compared to the previous month. In the five months of 2017 (January–May), the turnover of retail trade enterprises increased 2% compared to the corresponding period of the previous year.

Turnover volume index of retail trade enterprises and its trend

The statistics are based on the VAT declaration data of the Estonian Tax and Customs Board. Statistics Estonia published the monthly summary in four working days. For the statistical activity “Economic indicators of trade enterprises”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia performs this statistical activity.

Source: Statistics Estonia

Sales increased 22 pct in online stores

According to Statistics Estonia, in April 2017, compared to April 2016, the turnover of retail trade enterprises increased 1% at constant prices. While in March the turnover increased 5% compared to the same month of the previous year, in April the growth decelerated.

In April 2017, the turnover of retail trade enterprises was 537.4 million euros.

The turnover growth of stores selling manufactured goods decelerated in April. While in March the turnover of these stores increased 10% compared to the same month of the previous year, in April the growth was 2%. The turnover increased in most economic activities, except for stores selling pharmaceutical goods and cosmetics, where the turnover was smaller than in April of the previous year. In non-specialized stores selling predominantly manufactured goods (e.g. department stores), turnover remained at the same level as in April 2016. Turnover increased the most in stores selling via mail order or the Internet, with sales increasing 22% year over year. A higher-than-average increase in turnover occurred also in stores selling second-hand goods and in non-store retail sale (stalls, markets, direct sale) (5% growth).

The turnover of grocery stores increased 2% compared to April 2016.

The turnover of enterprises engaged in the retail sale of automotive fuel, which grew in February and March, started declining again in April and decreased 4% compared to April of the previous year.

Compared to the previous month, in April, the turnover of retail trade enterprises decreased 1%. According to the seasonally and working-day adjusted data, turnover stayed at the same level compared to the previous month. In the four months of 2017 (January–April), the turnover of retail trade enterprises increased 2% compared to the corresponding period of the previous year.Turnover volume index of retail trade enterprises and its trend

The statistics are based on the VAT declaration data of the Estonian Tax and Customs Board. Statistics Estonia published the monthly summary in five working days. For the statistical activity “Economic indicators of trade enterprises”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia performs this statistical activity.

Source: Statistics Estonia

The turnover of retail trade enterprises increased 6 pct in March

According to Statistics Estonia, in March 2017, compared to March 2016, the turnover of retail trade enterprises increased 6% at constant prices. While in February the turnover increased 1% compared to the same month of the previous year, in March the growth accelerated.

In March 2017, the turnover of retail trade enterprises was 545.7 million euros.

The turnover growth of stores selling manufactured goods accelerated in March. While in February the turnover of these stores increased 3% compared to the same month of the previous year, in March the growth was 11%. The turnover increased in five and decreased in two economic activities. Turnover increased the most in stores selling via mail order or the Internet, with sales increasing 33% in a year. Turnover increased also in stores selling household goods and appliances, hardware and building materials (16% growth), in stores selling second-hand goods and in non-store retail sale (stalls, markets, direct sale) (15% growth), in non-specialised stores selling predominantly manufactured goods (e.g. department stores) (12% growth) and in other specialised stores, such as stores selling computers and their accessories, books, sports equipment, games and toys, etc. (12% growth). The turnover of stores selling pharmaceutical goods and cosmetics and in stores selling textiles, clothing and footwear decreased compared to March of the previous year.

The turnover of grocery stores, which showed a small fall in the previous months, resumed growth in March and increased 2% compared to March of the previous year.
The turnover of enterprises engaging in the retail sales of automotive fuel increased 4% compared to March of the previous year.

Compared to the previous month, in March, the turnover of retail trade enterprises increased 16%. According to the seasonally and working-day adjusted data, the growth was 2%. In the three months of 2017 (January–March), the turnover of retail trade enterprises increased 3% compared to the corresponding period of the previous year.Turnover volume index of retail trade enterprises and its trend, January 2007 – March 2017

The statistics are based on the VAT declaration data of the Estonian Tax and Customs Board. Statistics Estonia published the monthly summary in five working days. For the statistical activity “Economic indicators of trade enterprises”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia performs this statistical activity.

Source: Statistics Estonia