Estonia’s privately-owned gas supplier, Eesti Gaas, will raise the price of natural gas for household consumers as of 1 October 2024 due to fluctuations in European gas market prices, ERR reports. The new tariff will be EUR 0.59 per m3, including VAT. In August 2024, Eesti Gaas cut the gas price to EUR 0.525 per…
Electricity prices in Estonia will increase significantly following the planned decoupling from the Russian electricity grid in February 2025, Postimees reports. Currently, the rate for production and consumption stands at just EUR 0.04 per MWh. Estonia’s transmission system operator, Elering, has proposed raising the rate to as much as EUR 5.31 per MWh, largely due…
The construction price index in Estonia rose by 2.2% on year in the second quarter of 2024, according to data from Statistics Estonia, ERR reports. Compared to the first quarter of 2024, the index rose by 0.7%. The cost of labour rose by 1.3%, of machinery by 2.4%, and of building materials by 0.2% over…
Annual inflation in the Baltic States was highest in Estonia in June 2024, according to Eurostat data, BNS reports. Estonia’s harmonised annual inflation rate stood at 2.8% in June 2024, compared to 1.5% in Latvia and 1.0% in Lithuania. Compared to May 2024, prices rose by 0.5% in Estonia but remained unchanged in Latvia and…
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…
Consumer prices in Latvia rose by 1.4% in June 2024, compared to the same month in 2023, according to data from the Central Statistical Bureau of Latvia (CSP), LETA reports. Compared to May 2024, consumer prices dropped by 0.1%, however. Average prices in a 12-month period rose by 1.9% when compared to the previous 12…
Latvia’s state-owned postal services provider, Latvijas Pasts, has submitted a new tariff plan for universal postal services to the Public Utilities Commission (SPRK), LETA reports. The company plans to raise tariffs on the domestic delivery of letters, parcels, and press publications as well as for cross-border postal services as of 2025. Latvijas Pasts said that…
Slowing inflation and strong wage growth in Estonia have increased people’s purchasing power, according to the Bank of Estonia, BNS reports. In June 2024, the consumer price index rose by only 2.5% on year, which was the slowest rate in three years, primarily due to falling energy prices. At the same time, most services have…
House prices in the Baltic States rose the most in Lithuania in the first quarter of 2024, according to Eurostat data, LSM reports. Compared to the first quarter of 2023, house prices increased by 9.9% in Lithuania, 7.8% in Estonia, and 3.7% in Latvia. Compared to the fourth quarter of 2023, house prices went up…