7.7.2022 | Shopping

Prices of goods and services rose by a further 2.7% in June

Text Mark Taylor
Photo Andrei Chertkov

According to data from Statistics Estonia, in June, the Consumer Price Index increased by 2.7% compared to May, and by 21.9% compared to June 2021. Goods were 17.9% and services 29.7% more expensive than in June last year. The Consumer Price Index monitors the cost of goods and services over time. In May, Estonia had the highest rate of inflation in the Eurozone at over 21 per cent.

“Compared to June 2021, the Consumer Price Index was affected the most by housing-related price changes, which contributed over 40% of the total rise in the index. The electricity that reached homes was 129.6%, heat energy 62.7%, pipeline gas 228.3%, and solid fuels 77.3% more expensive. The price changes of transport, and food and non-alcoholic beverages both accounted for a fifth of the total increase of the index. Petrol was 51.1% and diesel fuel 67.3% more expensive,” explained Viktoria Trasanov, a leading analyst at Statistics Estonia.

Among food products, the biggest increases compared to June 2021 were recorded in the price of potatoes (111.5%), eggs (61.9%), fresh fish (57.6%), flour and cereals (54.8%) and spices (53.4%).

Compared to one month ago, in May, the biggest impact on the Consumer Price Index came from fuel-related price increases. Petrol was 9.9% and diesel fuel 8.4% more expensive. The electricity that reached homes was 11.3% and solid fuels 6% more expensive. The price increases of food and non-alcoholic beverages accounted for nearly a fifth of the total increase.