Inflation Estonia 2004
Average inflation: 3.1%
Current Inflation
Inflation is high at 3.1%, well above the ECB target.
Peak and Trough
The highest inflation was in December at 5.0%. The lowest inflation was in March at 0.4%.
- Highest month
- December: 5.0%
- Lowest month
- March: 0.4%
- Difference
- 4.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Transport with an average of 5.5%. The lowest price increase was in Communication with an average of -1.6%.
- Highest increase
- Transport: 5.5%
- Lowest increase
- Communication: -1.6%
Historical Context
Current inflation is around the 5-year average of 3.6%.
- 5-year average
- 3.6%
- 10-year average
- 3.6%
- All-time high (2001)
- 5.8%
- All-time low (2003)
- 1.3%
Trend
Inflation has remained relatively stable. Compared to 2003, the difference is minimal (+1.8 percentage point).
- Change vs. previous year
- +1.8 percentage points
- Largest monthly swing
- June: +4.2 percentage points
ECB Target
Inflation is 1.1% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 0.5% | -2.0 |
| February | 0.5% | -1.9 |
| March | 0.4% | -2.0 |
| April | 1.3% | 0.0 |
| May | 3.7% | +3.0 |
| June | 4.5% | +4.2 |
| July | 4.1% | +3.3 |
| August | 4.0% | +2.7 |
| September | 3.9% | +2.5 |
| October | 4.1% | +3.1 |
| November | 4.7% | +3.7 |
| December | 5.0% | +4.0 |
| Average | 3.1% |
Data source
Data from OECD. Last updated: 11/01/2026.