Prices to rise three percent in Estonia
The prices of goods and services in Estonia will climb 3 percent in 2017, the Estonian wing of Swedbank predicted.
Meanwhile, salaries should increase somewhat faster than prices, the bank’s chief economist, Liis Elmik, evaluated in a press release on Tuesday, March 7.
Estonian public broadcaster ERR reports that the change of the Estonian consumer price index in February 2017 increased by 1.3 percent compared to January, and 3.4 percent compared to February of the previous year.
«A rise in prices is good news for many Estonian manufacturing companies, whose revenues were under pressure by a decline in prices for a long time,» Elmik commented.
According to the economist a rise in prices of dairy products, fish, and sugar had increased the prices of food products, which is in line with the «price index of the Food and Agriculture Organization of the United Nations reaching its highest level in the past two years in February».