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Flash comment: Estonia - February 7, 2012
07-02-2012 11:38
Consumer price growth accelerated in January
- Consumer prices increased by 0.7% in January compared to the previous month. As a result, the annual inflation jumped to 4.5% from 3.7% seen in December. This exceeded our expectations – we expected price growth to accelerate in the beginning of the year but with a slower pace.
- Pickup in price growth will continue in coming few months as well. However, we expect this to be temporary due to rising energy prices in the beginning of the year which in turn are pushing up housing costs. Price growth will slow to 3.2% on average this year, from 5% reported last year.
