Baltic nation experiences wild surge in consumer prices

According to data released by statistics Estonia, the Estonian consumer price index increased by 18.8% year over year in April.

Prices are rising faster than they have ever risen in decades.

In April, the agency stated that prices for goods and services were 14.4% and 27.8% higher than they were a year ago.

According to Viktoria Trasanov, a renowned analyst at Statistics Estonia, housing-related price adjustments had the greatest impact on the consumer price index.

It accounted for nearly 40% of the overall increase.

“In April, the automatic compensation scheme for electricity, electricity transmission fees, district heating, pipeline gas and gas transmission fees ended,” Trasanov stated.

The reports say that power prices have increased by 119 percent, while heat energy has increased by 57.7% since April 2021.

Meanwhile, pipeline gas prices have increased by 237.2 percent.

Moreover, Rents have increased by 34.4 percent as well.

Food and non-alcoholic beverage price changes, as well as transportation price changes.

Potato prices reportedly jumped by 134.3 percent, oils by 57 percent.

Cereals and flour by 37.7%, and pasta products and eggs by 36.9% and 34.8 percent, respectively.

Meanwhile, the cost of fresh fish has increased by 30.7 percent.

Petrol was 32.5 percent more expensive, while diesel fuel was 48.6% more expensive.