Inflation in Estonia is expected to increase as of autumn 2024, with overall inflation projected to reach 4% by the end of the year, according to some analysts, ERR reports. The analysts attribute the anticipated rise to persistently high energy prices and wage growth driving up service costs. Despite a significant 40% surge in grocery prices over the past two years, recent months have seen a slowdown, which is expected to reverse with more rapid price increases in autumn 2024. Estonia’s economic contraction is expected to continue in 2024, with a potential bottoming out in 2025, but it may take at least two more years for purchasing power to return to 2020 levels.
Read Less, Know More.
Via Baltica
Today's Top News from the Baltic States of Estonia, Latvia, and Lithuania.