Estonian CPI Growth Slows In August

Sep 7, 2007 - Consumer prices in Estonia increased 5.7% on an annual basis in August, the Statistics Estonia said, Friday. Consumer Price Index, CPI, rose faster 6.4% in the previous month. The CPI edged up 0.1% on a monthly basis in August, while the CPI gained 1.1% in the earlier month.

In August, prices of goods grew 2.9% annually, slowing from the 4.3% rise in the previous month. Food alcohol and tobacco prices expanded 5.7%, following the 6.7% climb in the earlier month. Manufactured goods prices gained 0.6%, while prices rose faster 2.2% in the last month. Services prices jumped 11.1% in August, hard on the heels of a 10.5% surge in July. The consumer price index in August was influenced chiefly by growing housing costs, rising food prices and falling motor fuel prices, the Statistics Estonia said.

Prices of food and non-alcoholic beverages expanded at an annual rate of 6.3% in August, decelerating from the 7.7% annual jump in the previous month. Clothing and footwear prices advanced 5.1% in August, a little higher than the advance of 4.4% in the last month. Housing prices soared 16.6%, matching the rise in housing prices of the previous month. Transport prices eased 1% annually in August, compared to the increase of 1.6% in the earlier month. Communications prices slipped 0.4%, following the 0.5% drop in prices in the last month.

On a monthly basis, prices of food and non-alcoholic beverages slipped 0.8% in August, versus the 1.3% advance in food and non-alcoholic beverages prices in the previous month. Clothing and footwear prices grew 1.2% recovering from a 0.8% fall in clothing and footwear prices in the last month. Housing prices gained 1.9% following the robust 4.5% expansion in housing prices in July. In August, vegetable prices sank on account of seasonal factors, while prices of motor fuel and heating energy and public transport eased, the Statistics Estonia observed.