Estonia Consumer Prices Fall In November

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Estonia’s consumer prices decreased at a softer pace in November, data from Statistics Estonia showed on Monday.

The consumer price index fell 0.8 percent year-on-year in December, following a 1.1 percent decrease in November.

Compared to the previous year, the consumer price index was affected the most by the decline in prices of motor fuel. Diesel fuel prices declined 25.7 percent and petrol prices fell 12.5 percent.

Prices for transportation decreased 7.3 percent annually in December and those of communication fell 2.1 percent.

Prices for clothing and footwear fell 1.4 percent and those in hotels, cafes and restaurants decreased 1.8 percent.

On a monthly basis, consumer prices remained unchanged in December, after a 0.1 percent rise in the previous month.

In 2020, consumer prices declined 0.4 percent compared to the previous year.

Prices for motor fuels had the biggest impact on the consumer prices, as diesel fuels and petrol were cheaper by 17.0 percent and 6.4 percent, respectively, Viktoria Trasanov, an analyst at Statistics Estonia, said.

“A significant impact on the change of the index also came from the 10.5 percent price decrease of electricity that reached homes and from the 2.2 percent increase in food prices,” Trasanov said.

The material has been provided by InstaForex Company –

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