Soaring food prices are currently the biggest driver of inflation
Text Mark Taylor
Photo Andrei Chertkov
According to Statistics Estonia, in November, the Consumer Price Index rose by 0.9 per cent compared with October and by 21.3 per cent compared with November 2021. Goods were 20.1 per cent and services 23.5 per cent more expensive than in November last year.
“Compared with November 2021, the Consumer Price Index was influenced the most by price changes related to housing and food and non-alcoholic beverages, which each accounted for slightly over 30 per cent of the total increase. Solid fuels were 110.9 per cent, electricity that reached homes 72.6 per cent, heat energy 62.3 per cent and gas 18.9 per cent more expensive,” said Viktoria Trasanov, a leading analyst at Statistics Estonia.
Among food products, the biggest increase compared with November 2021 occurred in the price of sugar (104.2 per cent). Flour and cereals were 74.9 per cent, eggs 59.6 per cent, other edible oils 53.7 per cent and sauces 52.6 per cent more expensive. “Petrol was 18 per cent and diesel fuel 40.8 per cent more expensive,” added Trasanov.
Compared with October, the Consumer Price Index was influenced the most by the rising prices of food and non-alcoholic beverages, which accounted for three-fifths of the total increase, and by housing-related price changes, which accounted for a fifth of the total index rise.