Inflation Estonia 2024
Average inflation: 3.5%
Current Inflation
Inflation is high at 3.5%, well above the ECB target.
Peak and Trough
The highest inflation was in January at 4.7%. The lowest inflation was in June at 2.5%.
- Highest month
- January: 4.7%
- Lowest month
- June: 2.5%
- Difference
- 2.2 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Communication with an average of 8.5%. The lowest price increase was in Housing, water, electricity, gas and other fuels with an average of 0.3%.
- Highest increase
- Communication: 8.5%
- Lowest increase
- Housing, water, electricity, gas and other fuels: 0.3%
Historical Context
Current inflation is 3.8% lower than the 5-year average of 7.3%.
- 5-year average
- 7.3%
- 10-year average
- 4.5%
- All-time high (2022)
- 19.3%
- All-time low (2015)
- -0.5%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +6.0 percentage point.
- Change vs. previous year
- -6.0 percentage points
- Largest monthly swing
- January: -13.9 percentage points
ECB Target
Inflation is 1.5% 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 €103.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 4.7% | -13.9 |
| February | 4.2% | -13.3 |
| March | 3.9% | -11.4 |
| April | 2.8% | -10.7 |
| May | 2.9% | -8.4 |
| June | 2.5% | -6.7 |
| July | 3.4% | -3.0 |
| August | 3.2% | -1.4 |
| September | 3.0% | -1.2 |
| October | 4.1% | -0.8 |
| November | 3.7% | -0.3 |
| December | 3.9% | -0.1 |
| Average | 3.5% |
Data source
Data from OECD. Last updated: 13/01/2026.