Food Prices Rise in November, but Fuel and Electricity Fall

Text Ingel Kink
Photo Marie-Michèle Bouchard / Unsplash

In November 2024, Statistics Estonia reported a decrease of 0.4 per cent in the Consumer Price Index compared to October, while the annual increase was 3.7 per cent compared to November 2023. Goods were 2.5 per cent more expensive and services rose by 5.6 per cent compared to the same period last year.

Lauri Veski, the team lead of consumer price statistics at Statistics Estonia, explained that the November drop in the Consumer Price Index compared with October was mainly due to cheaper international flights and holiday trips, which were more expensive in October due to the school holidays. “The index was also affected by rent and electricity being cheaper than in October. Compared with November last year, the index was driven up the most by price increases related to food products and phone services,” explained Veski.

Among food products, significant price hikes were observed in non-alcoholic beverages (19.6 per cent), fruits (13 per cent), chocolate (21.8 per cent), and coffee (16.6 per cent) when compared to November 2023. On the other hand, there was a decrease in prices for sugar (26 per cent), fresh vegetables (4.7 per cent), and poultry (4.6 per cent).

Fuel prices also saw notable changes. Petrol was 7.1 per cent cheaper, and diesel fuel was 8.8 per cent cheaper than in November 2023, driven by falling global prices. Electricity prices decreased by 4.6 per cent, following a decline in power market prices.

To learn more about this and similar topics
Cheaper Petrol and Diesel Estonia Consumer Price Index Estonia Electricity Prices Estonia Estonia Food Prices November 2024 Fuel Price Decrease Estonia 2024 Non-Alcoholic Beverage Rising Food Costs Estonia Statistics Estonia