Estonia: Consumer prices up 9.2% in 2023: statistics

Estonia’s consumer price index (CPI) rose by 9.2% in 2023, compared to the year before, according to Statistics Estonia, ERR reports. The rise of food and non-alcoholic beverages accounted for almost two fifths of the overall rise in consumer prices. Meanwhile, petrol prices dropped by 7.4% and diesel fuel prices by 10.7% over a year. The Bank of Estonia expects consumer prices to rise by 3.4% in 2024, ERR reports. Central bank economist Sulev Pert said that core inflation without volatile energy and food prices would continue to fall for both goods and services in 2024.