05.06.2020
Sulev Pert Economist at Eesti Pank

The consumer basket was 1.7% lower in price in May than a year earlier, and 0.7% lower than in the previous month. Prices in the euro area rose by an average of 0.1% in May, as inflation remained modest in several large countries.

... more

08.05.2020
Sulev Pert Economist at Eesti Pank

The consumer price index fell by 0.4% in the month of April and was 0.8% lower than a year earlier. Estonia last experienced deflation in 2016. Energy prices were down 9% over the year while food prices rose by 1.2%, but the prices of... more

17.04.2020
Like elsewhere in Europe and other countries around the world, the most topical question affecting the Estonian economy is what impact the steps taken to combat the COVID-19 pandemic and the restrictions they have placed on the activities of households and businesses will have. This issue of Eesti... more
07.04.2020
Sulev Pert Economist at Eesti Pank

Data from Statistics Estonia show that the rise in consumer prices slowed in March to 0.9% over the year. The price level dropped by 0.7% over the previous month.

Consumers stockpiled food products and other essentials in the... more

06.03.2020
Sulev Pert Economist at Eesti Pank

Data from Statistics Estonia show that yearly inflation rose in February to 2%. Inflation was driven by higher prices for services and food products, but was restrained by lower energy prices.

Weakness in global economic activity has... more

07.02.2020
Sulev Pert Economist at Eesti Pank

Data from Statistics Estonia show that the yearly rise in the price of the consumer basket slowed to 1.6% in January. Consumer prices were 0.4% lower in January than they were in December. The fall in prices over the month was due to cheaper... more

08.01.2020
Natalja Viilmann Economist at Eesti Pank

Data from Statistics Estonia show that consumer prices in Estonia were 0.3% lower in December than in November. The biggest changes came from the cut in the water tariff in Tallinn, falling prices for electricity and communications... more

19.12.2019
The economic circumstances for Estonia in the near term will be defined by the weakness of trading partners and the uncertainty prov-oked by the trade conflict between the US and China. Although central banks around the world have eased their monetary policy, encouraging growth in the economy by... more
17.12.2019
  • The Estonian economy will grow by 3.4% this year and 2.3% in 2020
  • Growth in the economy will slow in the next three years as the outlook for foreign markets is poor and the previously strong growth in employment will start to fade
  • Unemployment will rise in... more
06.12.2019
Working Papers of Eesti Pank 8/2019 This paper takes a fresh look at the use of the Phillips curve and various inflation expectation proxies for tracking euro area inflation dynamics in the aftermath of the global financial crisis of 2008. Because inflation expectations can be measured in a... more
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