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Inflation in Estonia will decelerate in next few months

Economic growth and inflation in Estonia in the next two years will slow down, while salaries will continue to grow rapidly – 6-7% per year.

Fiscal policy analyst at the Estonian Ministry of Finance Kristjan Pungas said that inflation is to decelerate in the next few months due to expression of last year’s excise hike in the reference base.

Such conclusions are made in the new forecast of the Estonian economy for the coming years, published by the Bank of Estonia on Tuesday, June 26.

According to the central bank, in 2018-2019, the economy will grow by about 3.5% per year, after which the growth will slow to 2.5%.

At the same time, inflation is also projected to fall: from 2.9% in 2018 to 2.5% in 2019 and 1.9% in 2020.

Salaries until 2020 will continue to grow by 6-7% per year, which is considered a rapid growth rate.

 

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