Rising food prices had the biggest impact on the Consumer Price Index in January

Text Mark Taylor
Photo Andrei Chertkov

The Consumer Price Index rose by 0.8 per cent in January compared with the previous month and by 18.6 per cent compared with January 2022. Goods were 19.0 per cent and services 17.8 per cent more expensive than one year ago.

“Compared with January 2022, the Consumer Price Index was influenced the most by price increases of food and non-alcoholic beverages, which accounted for a third of the total rise. Among food products, the biggest increases occurred in the price of sugar (97.2 per cent), flour and cereals (62.1 per cent), sauces (57.1 per cent), and eggs (56.3 per cent). Price changes related to housing accounted for nearly a quarter of the total increase. Transport accounted for a tenth of the rise in the index. Petrol was 10.1 per cent and diesel fuel 25,8 per cent more expensive,” said Viktoria Trasanov, a leading analyst at Statistics Estonia.

Compared with December 2022, the Consumer Price Index was influenced the most in January by the rising prices of food and non-alcoholic beverages, which accounted for more than 60 per cent of the total increase.

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Consumer Price Index Consumer Price Index Estonia Consumer Price Index January 2023 Food Prices Non-alcoholic Beverages Prices Statistics Estonia