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Estonia Consumer Prices Fall Further In July

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Estonia Consumer Prices Fall Further In July

Estonia’s consumer prices continued to decline in July, data from Statistics Estonia showed on Friday.

The consumer price index fell 0.9 percent year-on-year in July, following a 1.0 percent decrease in June.

Consumer prices were affected the most by a price decrease in motor fuel. Petrol prices decreased 7.7 percent and diesel fuel was 23.7 percent cheaper, Statistics Estonia analyst Viktoria Trasanov said.

“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,” Trasanov said.

“Accommodation services prices dropped by nearly a quarter,” Trasanov added.

Prices of transportation declined 3.7 percent yearly in July and those of housing fell 5.7 percent. Prices for alcoholic beverages and tobacco fell 1.0 percent.

Meanwhile, prices for education grew 3.7 percent and those for clothing and footwear increased 3.2 percent. Prices for food and non-alcoholic beverages rose 2.4 percent.

On a monthly basis, consumer prices remained unchanged in July, after a 0.9 percent rise in the previous month.

The material has been provided by InstaForex Company – www.instaforex.com