In July, electricity was cheaper but food more expensive

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According to Viktoria Trasanov, leading analyst at Statistics Estonia, in July 2020, compared to July 2019, the consumer price index was affected the most by cheaper motor fuel. “Diesel fuel was 23.7% and petrol 7.7% cheaper. Another significant contributor to the index change was housing services, as electricity that reached homes was 16.1% and rent 8.9% cheaper than last year. Accommodation services prices dropped by nearly a quarter,” added Trasanov.

An opposite effect to the index came mainly from more expensive food and non-alcoholic beverages. The main contributors were more expensive fruit (18%) and meat and meat products (6.3%). Of food products, prices fell the most for potatoes (30%), fresh fish (14%) and butter (10%) and increased for fresh fruit and berries (23%).

Compared to July 2019, regulated prices of goods and services fell by 7.2% and non-regulated prices rose by 0.8%.

Compared to June, the consumer price index was affected the most by 7% cheaper electricity that reached homes as well as 3.6% more expensive petrol and 4.3% more expensive vegetables.

See also the consumer price index calculator.

For the statistical activity “Consumer price index”, the main representative of public interest is the Ministry of Finance, commissioned by whom Statistics Estonia collects and analyses data. The data help to get an overview of the situation in Estonia, allowing ministries to make informed decisions.