Prices to rise three per­cent in Es­to­nia

Baltic News Network - - News -

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».

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