Market Commentary and Intraday News

Estonia's August Inflation Rises To 3.8%

284 days ago

(RTTNews) - Estonia's annual inflation accelerated in August, driven mainly by a sharp increase in housing costs, data released by Statistics Estonia showed Friday.

The consumer price index increased 3.8 percent on an annual basis in August, after rising 3.6 percent in July.

Housing costs were higher by 8.2 percent compared to August 2011, and transportation costs by 3.8 percent. Food and non-alcoholic beverages prices advanced 4.2 percent annually, while clothing and footwear prices moved up 4.4 percent.

The faster growth in prices was mainly influenced by higher housing expenditures, which contributed over a third of the total increase, though their impact on the index has decreased compared to preceding months.

On a monthly basis, consumer prices moved up 0.5 percent in August, the agency said.

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