Estonia's annual inflation rate increased to 2.4 percent in August 2019 from 2.1 percent in the previous month. Prices rose faster for: housing (2.1 percent vs 1.2 percent in July); food & non-alcoholic beverages (4.6 percent from 4.4 percent), mainly due to a rise in vegetables prices (27 percent); recreation and culture (5.7 percent vs 5.2 percent). In addition, transport prices rebounded (1.0 percent vs -0.8 percent), due to an increase in diesel fuel prices (0.6 percent). On the other hand, prices went up softer for: household goods (2.1 percent vs 3.2 percent); miscellaneous goods & services (2.2 percent vs 3.2 percent); and clothing (0.1 percent vs 2.2 percent). On a monthly basis, consumer prices rose 0.7 percent, after a 0.1 percent fall in the prior month. Inflation Rate in Estonia averaged 3.35 percent from 1999 until 2019, reaching an all time high of 11.44 percent in June of 2008 and a record low of -2.17 percent in October of 2009.
Inflation Rate in Estonia is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Estonia to stand at 2.20 in 12 months time. In the long-term, the Estonia Inflation Rate is projected to trend around 2.10 percent in 2020, according to our econometric models.