Inflation Estonia 2021
Average inflation: 4.6%
Current Inflation
Inflation is high at 4.6%, well above the ECB target.
Peak and Trough
The highest inflation was in December at 12.1%. The lowest inflation was in January at 0.2%.
- Highest month
- December: 12.1%
- Lowest month
- January: 0.2%
- Difference
- 11.9 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Housing, water, electricity, gas and other fuels with an average of 12.7%. The lowest price increase was in Communication with an average of -2.4%.
- Highest increase
- Housing, water, electricity, gas and other fuels: 12.7%
- Lowest increase
- Communication: -2.4%
Historical Context
Current inflation is 1.9% higher than the 5-year average of 2.7%.
- 5-year average
- 2.7%
- 10-year average
- 1.9%
- All-time high (2008)
- 10.4%
- All-time low (2015)
- -0.5%
Trend
Inflation shows an upward trend. Compared to 2020, inflation has risen by +5.0 percentage point.
- Change vs. previous year
- +5.0 percentage points
- Largest monthly swing
- December: +12.9 percentage points
ECB Target
Inflation is 2.6% 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 €104.60 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | 0.2% | -1.4 |
| February | 0.6% | -1.3 |
| March | 1.1% | +0.2 |
| April | 1.9% | +2.7 |
| May | 3.6% | +5.3 |
| June | 3.8% | +4.8 |
| July | 4.9% | +5.7 |
| August | 5.0% | +5.9 |
| September | 6.7% | +7.8 |
| October | 7.0% | +8.5 |
| November | 8.8% | +9.9 |
| December | 12.1% | +12.9 |
| Average | 4.6% |
Data source
Data from OECD. Last updated: 13/01/2026.