The consumer price index in Estonia in January 2022 compared to the last month of 2021 decreased by 0.1% and the key factor has been measures adopted by the government to relieve the rise in electricity prices to small consumers, according to official statistics.
On Monday, February 7, Statistics Estonia wrote in a press release that compared to December 2021, the consumer price index was affected the most by price decreases of electricity and pipeline gas, price increase of food and the sales of clothing and footwear. «The main reason for lower prices of electricity and pipeline gas is the government decision to put a price cap on these and set the volumes sold at capped prices. In addition, in January, electricity was cheaper than in December,» commented Viktoria Trasanov, the leading analyst at Statistics Estonia.
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In January 2022, the consumer price index in the Baltic country had risen by 11.3% compared to January 2021. Goods were 9.0% and services 16.0% more expensive than in January last year.
Trasanov noted that, compared to January 2021, the consumer price index was affected the most by housing-related expenditures, which contributed more than 40% of the total rise in the index. The electricity that reached homes was 52.6%, heat energy 42.5% and gas 79.6% more expensive. Both transport and food and non-alcoholic beverages contributed a fifth of the index rise. Year-on-year, petrol became 23.2% and diesel fuel 26.2% more expensive. Among food products, the biggest price increases compared to January 2021 were recorded for potatoes (106.6%), fresh vegetables (30.7%) and fresh fish (28.2%), Statistics Estonia wrote in the press release.
Electricity price cap in Estonia stopped price increase in January
