8.5.2023 | Estonia

In April, inflation was influenced the most by rising food prices

Text Mark Taylor
Photo Mathilde Langevin / Unsplash

According to data released by Statistics Estonia, in April, the Consumer Price Index (which is a key indicator of inflation) increased by 2.0 per cent compared with March and by 13.5 per cent compared with April 2022. Goods were 13.6 per cent and services 13.1 per cent more expensive than in April last year.

“Compared with April 2022, the Consumer Price Index was influenced the most by price increases of food and non-alcoholic beverages, which accounted for nearly two-fifths of the total rise, and housing-related price changes that accounted for a fifth of the total increase,” said Viktoria Trasanov, a team lead at Statistics Estonia.

“Electricity that reached homes was 49.4 per cent, while gas was 43.4 per cent cheaper. In April, the automatic compensation scheme for electricity and district heating came to an end. The price of gas had already fallen below the compensation threshold earlier,” added Trasanov.

Among food products, the biggest increase compared with April of last year occurred in the price of sugar (86.1 per cent). Cocoa was 41.5 per cent, olive oil 41.4 per cent, sauces 40.9 per cent, bread products 35.6 per cent, and poultry meat 35.1 per cent more expensive.“”Petrol was 6.2 per cent and diesel fuel 12.5 per cent cheaper,” concluded Trasanov.

Compared with March 2023, the Consumer Price Index was influenced the most by housing-related price changes, which accounted for 70 per cent of the total increase.