In Estonia prices are rising, purchasing power is falling
Publishedо 10 January, 2018
According to the service of the European Union Eurostat, Estonia was the only EU country where a decline in retail was recorded last year. The decrease in turnover was more than 1%.
Experts say that the main reason is a very noticeable rise in prices especially for food and fuel. Increase in prices of petrol and diesel on average by 13% resulted in the change in prices for such important food products as butter (the highest level – 33%), potatoes (16%), sugar, fruits, fish (about 12%). Prices for alcoholic and tobacco products grew significantly.
By the end of 2017, inflation in Estonia exceeded the forecasts of the national bank and for the first time it was higher than in Russia. However, the Bank representatives predict that the prices growth will not only slow, but also decline in the near future pursuant to the General trend of the European Union.
Source: ru.sputnik-news.ee
Experts say that the main reason is a very noticeable rise in prices especially for food and fuel. Increase in prices of petrol and diesel on average by 13% resulted in the change in prices for such important food products as butter (the highest level – 33%), potatoes (16%), sugar, fruits, fish (about 12%). Prices for alcoholic and tobacco products grew significantly.
By the end of 2017, inflation in Estonia exceeded the forecasts of the national bank and for the first time it was higher than in Russia. However, the Bank representatives predict that the prices growth will not only slow, but also decline in the near future pursuant to the General trend of the European Union.
Source: ru.sputnik-news.ee
