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8:07 GMT
05
Sep 2008

Estonia’s CPI Inflation drops in August

(RTTNews) - Estonia’s consumer price inflation eased slightly in August from July, a report by Statistics Estonia said Friday.

The index grew 11% year-on-year in August, compared to the 11.1% rise in July. Food and non-alcoholic beverage price rose 16.3%, with food price alone rising 17.1%. Transport prices rose 14.4% mainly due to an increase in price of motor fuel. These two categories contributed to more than half of the price rise.

Housing prices increased 12.3% compared with a 14.1% rise in the previous month. The report said that housing prices contributed to about one-sixth of the rise in consumer prices.

Among other categories, price of alcoholic beverages and tobacco was up 19.1%, while it rose 13.5% in hotels and restaurants. Alcoholic beverages added to one-eighth of the price increase, owing to an increase in the excise duty rates.

Prices of miscellaneous goods and services grew 7.8%. Within this category, prices of goods increased 11%, with manufactured goods prices rising by 6.2%. Prices of services increased 11.2%. While the regulated prices for this group increased 23.5%, non-regulated prices increased 7.6%.

On a monthly basis, consumer prices rose 0.1% in August compared with the 0.7% increase in the previous month. The main contributor to the rise was prices of alcohol and tobacco. On the other hand, prices of food, transport and miscellaneous goods and services declined.

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Posted in Categories: Economy, Releases.

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