Estonia's consumer prices rose 0.5 percent in September
Estonia's harmonized consumer price index increased 0.5 percent month-on-month in September and 3 percent year-on-year, according to a flash estimate from Statistics Estonia.
Statistics Estonia has released a flash estimate showing that the country's harmonized index of consumer prices (HICP) rose 0.5 percent in September compared with August. On an annual basis, the index was up 3 percent compared with September last year.
Lauri Veski, Consumer Price Statistics Service Manager at Statistics Estonia, said the increase was mainly driven by continuing rises in petrol and diesel prices. He linked this trend to the ongoing armed conflict in the Middle East, which has kept pushing fuel costs higher.
The HICP figure differs from the standard consumer price index (CPI) in that it also accounts for spending by tourists, which tends to be higher during the summer months. The CPI, by contrast, is based solely on the average spending patterns of people who live in Estonia.
The figures released are preliminary flash estimates and are expected to be revised once more detailed September price data becomes available. Statistics Estonia plans to publish the full CPI data for September next Wednesday, October 7, with the complete HICP figures for the month following on October 15.
