Inflation Estonia 2003
Average inflation: 1.3%
Current Inflation
Inflation is low at 1.3%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in January at 2.5%. The lowest inflation was in June at 0.3%.
- Highest month
- January: 2.5%
- Lowest month
- June: 0.3%
- Difference
- 2.2 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Health with an average of 13.7%. The lowest price increase was in Food and non-alcoholic beverages with an average of -1.7%.
- Highest increase
- Health: 13.7%
- Lowest increase
- Food and non-alcoholic beverages: -1.7%
Historical Context
Current inflation is 2.4% lower than the 5-year average of 3.7%. This approaches the lowest level since records began (1.3% in 2003).
- 5-year average
- 3.7%
- 10-year average
- 3.7%
- All-time high (2001)
- 5.8%
- All-time low (2003)
- 1.3%
Trend
Inflation shows a downward trend. Compared to 2002, inflation has fallen by +2.3 percentage point.
- Change vs. previous year
- -2.3 percentage points
- Largest monthly swing
- June: -3.5 percentage points
ECB Target
Inflation is 0.7% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €101.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| January | 2.5% | -1.7 |
| February | 2.4% | -2.1 |
| March | 2.4% | -1.9 |
| April | 1.3% | -3.3 |
| May | 0.7% | -3.4 |
| June | 0.3% | -3.5 |
| July | 0.8% | -2.3 |
| August | 1.3% | -1.4 |
| September | 1.4% | -1.3 |
| October | 1.0% | -2.2 |
| November | 1.0% | -2.1 |
| December | 1.0% | -1.7 |
| Average | 1.3% |
Data source
Data from OECD. Last updated: 13/01/2026.