Consumer Price Index rises by 2.3% in August

Text Mark Taylor
Photo Tara Clark / Unsplash

According to data from Statistics Estonia, in August, the consumer price index increased by 2.3 per cent compared with July, and by 24.8 per cent compared with August 2021. Goods were 18.3% and services 37.6% more expensive than in August last year.

Compared with August 2021, the consumer price index was affected the most by housing-related price changes, which contributed over 40 per cent of the total rise. “Electricity that reached homes was 205.9 per cent, heat energy 61.7 per cent, gas 244.2 per cent and solid fuels 100.0 per cent more expensive. The price changes of food and non-alcoholic beverages and transport respectively accounted for a fifth and seventh of the total rise in the index. Petrol was 30.5 per cent and diesel fuel 46.9 per cent more expensive,” explained Viktoria Trasanov, a leading analyst at Statistics Estonia.

Among food products, the biggest increase compared to August 2021 occurred in the price of sugar, up 81.2 per cent. Flour and cereals were 75.2 per cent, spices 57.6 per cent, other edible oils 56.5 per cent, and eggs 50.9 per cent more expensive.  

The consumer price index rose by 2.3 per cent compared to July. The increase was influenced the most by housing (9.6 per cent) and food and non-alcoholic beverages (2.2 per cent). The cost of clothing and footwear rose by 4.5 per cent, in part due to the ending of many sales. However, petrol was 6.3% and diesel fuel 8.2% cheaper in August compared to July.

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Consumer Price Index Electricity Prices Fuel Prices Goods Price Rises Services Statistics Estonia