Estonia experienced a slight uptick in consumer price inflation toward the end of the year, according to preliminary data from Statistics Estonia released on Wednesday. In December, consumer prices increased by 3.9% annually, a slight acceleration from the 3.7% rise observed in November.
This inflationary trend was mainly propelled by a 5.4% climb in the costs of food and non-alcoholic beverages. Additionally, transport expenses rose by 3.2% compared to the previous year.
On a month-to-month basis, there was a modest 0.1% increase in consumer prices for December, reversing the 0.4% decline recorded in the previous month.
Looking at the year 2024 in its entirety, the consumer price index saw a 3.5% increase, a significant slowdown from the 9.2% surge witnessed in 2023.
