Estonia's July CPI down 0.3 pct on year

Photo: SCANPIX

The Estonian consumer price index decreased by 0.4 percent in July compared to the previous month and by 0.3 percent compared to July 2014, Statistics Estonia said on Friday.

Year-on-year, goods were 0.4 percent and services 0.3 percent cheaper. Regulated prices of goods and services have fallen by 1.1 percent and non-regulated prices by 0.1 percent compared to July of the previous year.

Compared to July 2014, the consumer price index was influenced the most by transport, 70 percent of its influence was due to motor fuel, which had become 11.6 percent cheaper over the course of a year. In addition, 5.5 percent cheaper electricity, heat energy and fuels also had a bigger impact on the index, as the electricity that arrived at homes was 7 percent, heat energy 4.3 percent and natural gas that arrived at homes 19.5 percent cheaper than in the same month of the previous year.

Out of the products which became more expensive, alcoholic beverages had the biggest impact on the index, as their prices increased 7.9 percent compared to the previous year. Compared to July 2014, of food products the prices of dried fruit and nuts have increased the most or by 29 percent, whereas the prices of butter and milk have decreased the most -- by respectively 15 percent and 14 percent.

Compared to June, the consumer price index was influenced the most by the summer sales of clothing and footwear. The influence of transport was only slightly smaller, with the prices of motor fuel decreasing by 2.8 percent compared to June 2015 and the plane tickets bought for July being 10.5 percent cheaper. With the sales of June ending, the prices of alcoholic beverages increased by 2.2 percent.