Inflation stabilised in May

Text Mark Taylor

According to Statistics Estonia, in May, the Consumer Price Index (which is a key indicator of inflation) remained at the same level compared to April. However, it increased by 11.3 per cent compared with May 2022. Goods were 11.1 per cent and services 11.5 per cent more expensive than in May last year.

“Compared with May 2022, the Consumer Price Index was influenced the most by price increases in food and non-alcoholic beverages, which accounted for two-fifths of the total rise. Compared with May last year, meat and meat products were 21.2 per cent, flour, cereals and cereal products 23.8 per cent, fresh vegetables 38.4 per cent, and fresh fruits and berries 26.7 per cent more expensive. Fresh fish was 19.7 per cent cheaper. “Petrol was 12.9 per cent, diesel fuel 19.3 per cent and gas 43.2 per cent cheaper,” said Viktoria Trasanov, a team lead at Statistics Estonia.

Compared with April, the Consumer Price Index was influenced the most by transport-related price changes, as motor fuel prices fell by 2 per cent and plane tickets bought for May were 12 per cent cheaper than tickets bought for April.

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