Food prices rose 8.4 percent year-on-year in June
Food prices rose by over 8 percent in June on year, and by more than 1 percent on month, data from Statistics Estonia shows.
In June, the consumer price index increased by 0.9 percent compared with May and by 5 percent compared with June 2024.
Goods were 2.8 percent and services 8.4 percent more expensive than in June last year.
Lauri Veski, team lead of consumer price statistics at Statistics Estonia, said that the consumer price index in June was up by 0.9 percent compared with May and by 5 percent year on year.
"Compared with June 2024, the index was affected the most by the 8.4 percent higher prices of food products. In transport, prices increased by 7.5 percent, mainly due to the motor vehicle tax introduced in January and price changes in passenger transport. New price lists for health services are in force from May, including an increased appointment fee for specialist medical care, which also affected the index year on year (10.1 percent)," she said in a statement.
However, prices also fell in some sectors.
"A fall was registered in the prices of clothing and footwear (4.1 percent) and prices related to housing (0.6 percent). Compared with June of the previous year, electricity was 16.7 percent cheaper," Veski noted.
Vegetables, meat and milk prices rose in June
In comparison with May, the index in June was mainly influenced by price increases of food and non-alcoholic beverages (1.2 percent), holiday trips (27.7 percent) and accommodation services (27.3 percent).
"The latter two increases are probably temporary. The fall in housing costs (1.3 percent), mainly lower prices of electricity (6.4 percent) and gas (9.3 percent), had the opposite effect on the index. A drop in the prices of alcoholic beverages (2.9 percent) and clothing and footwear (1.4 percent) also kept the index lower," the analyst explained.
The prices of food products rose by 1.2 percent in June compared with May. Rising prices of vegetables (2.7 percent), beef (5.7 percent), poultry (4.8 percent), as well as milk, dairy products and eggs (1.3 percent) contributed the most to the increase in food prices.
Decreases in the prices of cheese (1.7 percent), pork (2.8 percent) and fish and fish preparations (1.4 percent) had the opposite effect on the index.
The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
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Editor: Helen Wright
