Estonia's annual inflation rate eased to a six-month low of 3.4 percent in November of 2018 from an over 6-1/2 year high of 4.4 percent in October. Inflation slowed for: food and non-alcoholic beverages (1.7 pct vs 2.8 pct in October); transport (2.5 pct vs 10.1 pct), and miscellaneous goods & services (2.8 pct vs 3.9 pct). Meanwhile, prices rose faster for: housing (8.6 percent vs 7.0 pct); clothing (2.7 pct vs 1.5 pct); recreation and culture (4.4 pct vs 3.5 pct), and household goods (1.3 pct vs 0.9 pct). On a monthly basis, consumer prices went down 0.5 percent, after rising by 0.5 percent in the prior month.It was the first decline in prices since December 2017. Inflation Rate in Estonia averaged 3.38 percent from 1999 until 2018, 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 4.10 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 2.80 in 12 months time. In the long-term, the Estonia Inflation Rate is projected to trend around 2.90 percent in 2020, according to our econometric models.