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Estonia's average consumer prices up by 0.1 pct in 2016

Xinhua, January 7, 2017 Adjust font size:

Estonia's consumer prices increased by 0.1 percent in 2016 compared to the average of 2015, said the Statistics Estonia on Friday.

The annual change of the consumer price index was mainly influenced by alcoholic beverages and tobacco, with respective 6.7 percent and a 5.5 percent price increases, it said in a press release.

Electricity that arrived at homes became 2 percent more expensive, however, heat energy became 9.1 percent and pipeline gas 20.1 percent cheaper, while motor fuel remained 4 percent cheaper than in 2015 based on a comparison of annual averages, despite a rise in prices at the end of the year.

In 2016, the prices of processed fruit and sugar increased the most by 21 percent, and the prices of low-fat milk and fresh vegetables decreased the most by 10 percent and 7 percent respectively.

In December 2016, the consumer prices increased by 0.4 percent compared with that of November 2016, which is a 2.2 percent increase year-on-year.

Meanwhile, Swedbank expects Estonia's rising prices to accelerate in 2017, driven by rising raw material prices as well as higher excise duties, but predicts no more than 3 percent increase. Endit