Estonia breaks inflation record in Europe

Estonia’s consumer price index rose 2.3% in August compared to July and 24.8% compared to August last year, the country’s statistics department said.

According to the Estonian Statistics Department, goods went up by 18.3% compared to August last year and services by 37.6%.

“Compared to August 2021, the consumer price index was mostly influenced by price changes related to housing, which accounted for more than 40% of the total increase,” said Viktorija Trasanov, lead analyst of the Department.

For example, electricity for housing became 205.9% more expensive, heating 61.7% more expensive, gas 244.2% more expensive and solid fuel 100% more expensive. Petrol price went up by 30.5%, diesel fuel – by 46.9%.

As for foodstuffs, the most expensive was sugar (81.2%), compared to August last year. Flour and cereals became more expensive by 75.2%, spices – by 57.6%, eggs – by 50.9%.

According to the quick data from Eurostat as of August 31, prices in Estonia in August this year rose by 25.2% compared to August last year, which is the highest rise in the EU (9.1% in the EU). Lithuania followed Estonia with 21.1% and Latvia with 20.8%.

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