We know Estonia
12.1.2025 | Estonia

Consumer Price Index rises by 3.5% in 2024

Text Ingel Kink
Photo Andrei Chertkov

Consumer Price Index rises by 3.5% in 2024

 

According to Statistics Estonia, the Consumer Price Index (CPI), which is the key indicator of inflation, rose by 3.5% in 2024 compared to the previous year, with food and non-alcoholic beverages driving the most significant changes. Lauri Veski, team lead of consumer price statistics at Statistics Estonia, highlighted that these categories accounted for 23.7 per cent of the overall increase. Notably, olive oil prices surged by 44 per cent, and juices and syrups rose by 36.7 per cent. Meanwhile, chocolate prices increased by 14.5 per cent, though there were decreases in sugar (18 per cent) and fresh vegetables (11.6 per cent).

In December 2024, the CPI saw a marginal monthly increase of 0.1 per cent and a year-on-year rise of 3.9 per cent. Goods were 3.2 per cent and services 5.1 per cent more expensive than in December 2023. Veski noted, “Among food products, the prices of juices and syrups, primarily orange juice, increased the most, by 68.1 per cent. Chocolate was 36 per cent, frozen fruits and vegetables 35.7 per cent, and olive oil 23.9 per cent more expensive.”

Petrol and diesel, which had been declining, saw a December resurgence to similar levels as the previous year. Additionally, rising transport costs and fluctuating prices in international flights and holiday trips also influenced the CPI.

 

To learn more about this and similar topics
2024 Economic Data Estonia Consumer price index 2024 Estonia Inflation Food Price Increase Non-Alcoholic Beverages prices Olive Oil Price Statistics Estonia Transport Cost Estonia

7.2.2025 | Estonia

Retail trade fell by 3 per cent in 2024

Retail trade fell by 3 per cent in 2024

Retail trade enterprises in Estonia saw a decline last year, with total turnover reaching 10.4 billion euros—down 3 per … Read more

6.2.2025 | Estonia

International School of Tallinn opens in Ülemiste

International School of Tallinn opens in Ülemiste

The newly completed Education Quarter in Ülemiste City has welcomed its first major tenant—the International School of Tallinn. The … Read more

2.2.2025 | Estonia

Construction Prices Rise by 1.6% in 2024

Construction Prices Rise by 1.6% in 2024

In 2024, the Construction Price Index increased by 1.6 per cent compared to the average of 2023, according to … Read more

28.1.2025 | Estonia

Business festival sTARTUp Day kicks off tomorrow 

Business festival sTARTUp Day kicks off tomorrow 

From January 29 to 31, Tartu will host sTARTUp Day 2025, a business festival that brings together startup founders, … Read more

28.1.2025 | Estonia

Tallink Star returns to serve a new route

Tallink Star returns to serve a new route

Tallink Star will return to Estonia and begin operations on the Paldiski-Kapellskär route from February 9. Having been chartered … Read more

26.1.2025 | Estonia

Estonia’s Population Declines in 2024

Estonia’s Population Declines in 2024

According to preliminary data from Statistics Estonia, Estonia’s population on January 1, 2025, stood at 1,369,285, marking a decrease … Read more

23.1.2025 | Estonia

Compound names gain popularity in Estonia

Compound names gain popularity in Estonia

The popularity of compound names has risen significantly in Estonia since the country regained independence. In recent decades, nearly … Read more

22.1.2025 | Estonia

Estonia opens homes for displaced foster families in Ukraine

Estonia opens homes for displaced foster families in Ukraine

Estonia has opened two family-style small group homes in Zhytomyr, Ukraine, to support foster families displaced by the war. … Read more