logo
  

Estonia Inflation Accelerates Further

Estonia's consumer price inflation increased for a sixth month in a row in July, largely driven by higher costs for housing and food, preliminary figures from Statistics Estonia showed on Friday.

Consumer prices increased 22.8 percent yearly in July, following a 21.9 percent rise in June.

"Compared to July 2021, the consumer price index was affected the most by housing-related price changes, which contributed over 40 percent of the total rise," Viktoria Trasanov, a leading analyst at Statistics Estonia, said.

Housing costs alone grew 68.2 percent annually in July. Electricity costs for homes surged 142.9 percent and heating prices jumped 62.7 percent. Gas was 235.4 percent expensive and solid fuel prices soared 80.1 percent.

Transport costs surged 28.7 percent July and prices for hotels, cafes and restaurants increased 22.1 percent.

Prices for food and non-alcoholic beverages rose 19.7 percent and those for household goods gained 14.3 percent.

Cost of goods increased 17.7 percent yearly in July and that of services grew 33.1 percent.

On a monthly basis, consumer prices rose 1.9 percent in July, after a 2.7 percent growth in the prior month.

The biggest monthly impact came from the housing and food-related price increases. Electricity was 15.0 percent and gas 22.5 percent more expensive compared to the previous month.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Netflix, Inc. said it is adding a new feature to offer a more personalized mobile games experience on the platform. In a statement, Sophia Yang, Product Manager, Mobile Games, said the company is rolling out the ability to create game handles, with which members will be able to create a unique public username. This can be used across all Netflix games. General Motors Co. has delayed its plan to require employees to return to office many days a week until next year, reports said citing an internal memo signed by CEO Mary Barra. Last week, the company had announced that corporate workers would be required to return to respective offices at least three days a week, beginning later this year, as the COVID-19 pandemic eases. Ford Motor Co. is seeking a new trial in a Georgia court after a jury reached a $1.7 billion verdict in a lawsuit against the automotive major regarding a truck rollover accident, The Wall Street Journal reported. In the new court filings, Ford said it was unfairly precluded from providing evidence and thus defending against claims that its trucks were defective.
Follow RTT