The Estonian consumer price index declined by 0.3 percent in August compared to both the preceding month and August 2014, Statistics Estonia reports.
Estonian consumer prices 0.3 pct down on year in August
7th September 2015, 12:58
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Year on year, goods were 0.7 percent cheaper and services 0.4 percent more expensive last month. Regulated prices of goods and services fell by 2.2 percent and non-regulated prices rose by 0.3 percent in annual comparison.
Compared to August 2014, the CPI was influenced the most by motor fuel, which has become 14.4 percent cheaper over the year. In addition, 4.3 percent cheaper electricity, heat energy and fuels had a bigger impact on the index, as heat energy was 4.5 percent and the electricity that arrived at homes 3.8 percent cheaper than in the same month of the previous year.
Of the products that became more expensive, alcoholic beverages had the biggest impact on the index, as their prices have increased by 7 percent year on year. Of food products, prices of dried fruit and nuts (26 percent), fresh vegetables (26 percent) and apples (22 percent) increased the most, whereas the price of milk decreased the most, by 14 percent.
Compared to July, the index was also influenced the most by motor fuel, the prices of which fell 5.5 percent over the month. Summer sales of clothing and footwear having partially ended also had a bigger impact on the index. In August, food was 1 percent cheaper than in July, with prices of fresh vegetables falling 12 percent.