Smallest change in consumer price index in three and a half years
According to Statistics Estonia, the change of the consumer price index in March was –0.7% compared to February and 0.9% compared to March of the previous year. The last time that the year-on-year change of the consumer price index was below 0.9% was in October 2016, when it was 0.6%.
Compared to March 2019, goods were 0.8% and services 1.1% more expensive. Regulated prices of goods and services fell by 3.5% and non-regulated prices rose by 2.1%.
Compared to March 2019, the consumer price index was affected the most by more expensive food and non-alcoholic beverages. The main contributors were fresh fruit (19.4%), meat and meat products (5.1%). Electricity that reached homes was 13.7% cheaper, petrol 0.2% more expensive and diesel fuel 2.4% cheaper. Of food products, rice was more expensive (14%), while potatoes (26%) and fresh vegetables (12%) were cheaper.
Compared to February, the consumer price index was affected the most by cheaper motor fuel (4.7%), which contributed more than 40% of the total change of the index. Food and non-alcoholic beverages were 1.1% and electricity that reached homes 5.1% cheaper.
The consumer price index for March largely reflects the situation before the emergency situation, as the price collection period was the week before it was announced. The index for education decreased due to the decision of local authorities to suspend kindergarten fees during the emergency situation.
| Commodity group | March 2019 – March 2020, % | February 2020 – March 2020, % |
|---|---|---|
| TOTAL | 0.9 | -0.7 |
| Food and non-alcoholic beverages | 2.3 | -1.1 |
| Alcoholic beverages and tobacco | -2.7 | 0.4 |
| Clothing and footwear | 2.1 | 1.5 |
| Housing | -3.0 | -1.0 |
| Household goods | 1.3 | 0.3 |
| Health | 3.3 | -0.1 |
| Transport | 0.2 | -2.0 |
| Communications | -1.4 | -0.1 |
| Recreation and culture | 5.4 | -0.1 |
| Education | -8.3 | -11.3 |
| Hotels, cafés and restaurants | 2.7 | 0.0 |
| Miscellaneous goods and services | 1.8 | 0.0 |
Statistics Estonia publishes the consumer price index on the 5th working day of each month, after the end of the reporting period. For the statistical activity “Consumer price index”, the main representative of public interest is the Ministry of Finance, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.