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Estonia's Inflation Weakens In January

2/7/2013 1:14 AM ET

Estonia's consumer price inflation weakened modestly in January, data released by Statistics Estonia showed Thursday.

The consumer price index grew 3.4 percent on an annual basis in January, following the previous month's 3.5 percent increase.

The annual growth in prices was mainly influenced by a 9.7 percent growth in housing expenditures, which gave nearly a half of the total increase.

Among the major component that constitute the headline index, food and non-alcoholic beverages prices advanced 5.5 percent year-on-year, and clothing and footwear prices moved up 5.1 percent. Meanwhile, there was a 2.4 percent decrease in transportation costs.

On a monthly basis, the consumer price index moved up 0.7 percent in January, the agency said.

by RTT Staff Writer

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