07.06.202314:07:00UTC+00Estonia Inflation At 16-month Low

Estonia's consumer price inflation eased for the fourth straight month in May to the lowest level in a year, though it remained strong overall, preliminary figures from Statistics Estonia showed on Wednesday.

The consumer price index rose 11.3 percent year-over-year in May,which was slower than the 13.5 percent gain in April.

Further, this was the weakest rate of inflation since January 2022, when prices grew at the same rate as in May.

The CPI was influenced the most by the 20.4 percent price increase of food and non-alcoholic beverages, which accounted for two fifths of the total rise, Statistics Estonia official Viktoria Trasanov said.

Household goods costs grew 13.6 percent annually in May.

Prices for miscellaneous goods and services were 16.5 percent higher in May compared to last year, while transport charges dropped 3.0 percent.

On a monthly basis, consumer prices showed zero percent change in March, after a 2.0 percent gain in April.

The monthly result was influenced the most by transport-related price changes, as motor fuel prices fell by 2 percent and plane tickets bought for May were 12 percent cheaper than tickets bought for April, the statistical office said.