Latest reading: Inflation dipped to 1.1% in June, down from May’s 1.2% and representing the lowest inflation rate in over...
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 2024.
Source: Macrobond.
Estonia Inflation Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (HICP, ann. var. %, aop) | 2.3 | -0.6 | 4.5 | 19.4 | 9.1 |
| Inflation (CPI, ann. var. %, eop) | 1.8 | -0.8 | 12.2 | 17.6 | 4.0 |
| Inflation (HICP, ann. var. %, eop) | 1.8 | -0.9 | 12.0 | 17.5 | 4.3 |
| Inflation (PPI, ann. var. %, aop) | -0.2 | -2.4 | 12.4 | 26.8 | 0.9 |
Harmonized inflation comes in at highest level since July 2023 in June
Latest reading: Harmonized inflation spiked to 5.3% in June, which was up from May’s 4.6% and marked an almost two-year high. The reading was also the highest in the Eurozone this month. Prices for food, hospitality, recreation and transport all increased at a quicker rate in June. Meanwhile, housing and utilities costs declined for the first time in five months. Accordingly, annual average harmonized inflation rose to 4.2% in June (May: 3.9%). Moreover, consumer price inflation rose to 5.0% in June from May’s 4.5%. Lastly, harmonized consumer prices increased 1.11% in June over the previous month, accelerating from May's 0.15% increase.
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 13 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 drops to lowest level since November 2024 in June Latest reading: Inflation came in at 3.3% in June, down from May’s 3.5%. June’s result represented the weakest inflation rate... -
New Zealand: Inflation ticks up in Q2 Latest reading: Inflation rose to 2.7% in Q2 2025 from 2.5% in Q1, slightly below market expectations and within the... -
Hong Kong: Inflation declines to lowest level since March in June Latest reading: Inflation came in at 1.5% in June, which was down from May’s 1.9%. June’s figure represented the weakest... -
Estonia: Harmonized inflation comes in at highest level since July 2023 in June Latest reading: Harmonized inflation spiked to 5.3% in June, which was up from May’s 4.6% and marked an almost two-year... -
Latvia: Harmonized inflation increases in June Latest reading: Harmonized inflation came in at 3.9% in June, which was up from May’s 3.7%. The uptick stemmed from... -
Lithuania: Harmonized inflation rises in June Latest reading: Harmonized inflation ticked up to 3.2% in June, following May’s 3.0%. The uptick was due to rising prices...