Latest reading: Inflation ticked up to 2.4% in July, following June’s 2.3%. Looking at the details of the release, prices...
Inflation in Estonia
Harmonized consumer price inflation averaged 4.3% in the ten years to 2024. The 2024 average figure was 3.7%. For more inflation information, visit our dedicated page.
Estonia Inflation Chart
Note: This chart displays Inflation (HICP, ann. var. %, aop) for Estonia from 2014 to 2025.
Source: Macrobond.
Estonia Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | -0.6 | 4.5 | 19.4 | 9.1 | 3.7 |
| Inflation (CPI, ann. var. %, eop) | -0.8 | 12.2 | 17.6 | 4.0 | 3.9 |
| Inflation (HICP, ann. var. %, eop) | -0.9 | 12.0 | 17.5 | 4.3 | 4.1 |
| Inflation (PPI, ann. var. %, aop) | -2.4 | 12.4 | 26.8 | 0.9 | -0.9 |
Inflation slows in September from the prior month
Latest reading: Harmonized consumer prices were up 5.3% in annual terms in September, following a 6.2% rise in the prior month. Relative to the previous month's data, there were reduced price pressures for food and non-alcoholic beverages (+7.8% in annual terms vs +9.4% in August), transportation (+8.5% vs +9.6% in August), recreation (+6.5% vs +8.3% in August) and restaurants and hotels (+5.2% vs +6.1% in August). In contrast, price pressures were higher for housing and utilities in September (+2.6% vs +1.6% in August). Meanwhile, consumer prices increased 5.2% on a year-on-year basis in September, following a 6.1% rise in the previous month. Lastly, harmonized consumer prices declined 1.12% in September in month-on-month terms, following a 0.91% rise in the prior month.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Estonian inflation projections for the next ten years from a panel of 11 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Estonian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Estonian inflation projections.
Want to get access to the full dataset of Estonian inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Japan: Inflation declines in July but remains above target Latest reading: Inflation came in at 3.1% in July, down from June’s 3.3%. July’s result represented the lowest inflation rate... -
Estonia: Harmonized inflation picks up in July Latest reading: Harmonized inflation came in at 5.6% in July, which was up from June’s 5.3%. July’s figure was the... -
Greece: Harmonized inflation rises in July Latest reading: Harmonized inflation ticked up to 3.7% in July from June’s 3.6%. July’s figure represented the highest inflation rate... -
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Lithuania: Harmonized inflation increases in July Latest reading: Harmonized inflation ticked up to 3.4% in July from June’s 3.2%. Looking at the details of the release,... -
Ireland: Harmonized inflation steadies in July Latest reading: Harmonized inflation was stable at June’s 1.6% in July. Looking at the details of the release, prices for...