Rising fuel prices, electricity increased Consumer Price Index in Estonia

In May 2021, the consumer price index increased by 0.9 percent compared to April 2021 and by 3.6 percent compared to May 2020. Rising prices of motor fuel and electricity were behind the increase.

Goods were 2.9 percent and services 4.4 percent more expensive than in May last year.

Viktoria Trasanov, lead analyst at Statistics Estonia, said, compared to May 2020, the consumer price index was influenced the most by price increase of motor fuel.

“Both petrol and diesel were 20.2 percent more expensive. Here, it is important to note that the lowering of several excise duties in May last year no longer had an impact on the year-on-year comparison,” added Trasanov.

A bigger impact on the index came also from 24.6 percent more expensive electricity that reached homes. Among food products, the biggest rise compared to May 2020 was registered in the prices of fresh fish (25.2 percent), fresh vegetables (16.1 percent), flour mixes (11.5 percent) and baby food (10.2 percent), and the biggest fall in the price of potatoes (21.6 percent).

The index for education increased due to discontinued benefits for kindergarten fees, which local governments had offered in connection with the coronavirus pandemic.

Read more: ERR.EE

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