Estonia’s consumer price index rose by 3.5% in 2024 compared with 2023, according to revised data from Statistics Estonia. Changes in food and non-alcoholic beverage prices had the biggest impact on the index in 2024, accounting for 23.7% of the total rise. Prices of food and non-alcoholic beverages rose by 3.2%, alcoholic beverages and tobacco by 6.8%, household goods by 2.7%, and clothing and footwear by 0.9% over a year. Housing prices went up by 0.3% in 2024. Prices of health care services increased by 8.1%, transport services by 1.8%, communications services by 8.5%, recreation and leisure services by 5.0%, education by 7.5%, and accommodation and catering services by 4.6%. Prices of miscellaneous goods and services rose by 6.5% over a year. Estonia’s average wage increased faster than annual inflation in 2024, ERR reported. Estonia’s central bank, the Bank of Estonia, forecasts that annual inflation will rise to 4.3% in 2025, ERR reports.
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