According to Statistics Estonia, the consumer price index rose by 19.4% in 2022 compared to the average in 2021. In 2022, the biggest driver of the CPI was housing-related price changes.

According to Viktoria Trasanov, lead analyst at Statistics Estonia, the biggest drivers of the CPI in 2022 were housing-related price increases, which together accounted for two-fifths of the total increase.

"The price of electricity delivered to homes rose by 94.4% year-on-year, gas by 123.8%, solid fuels by 73.5% and heat by 49.1%. Food and non-alcoholic beverages accounted for nearly a quarter of the total increase. Among foodstuffs, flour and cereals, sugar (50.9 per cent), other oils (49.5 per cent) and eggs (45 per cent) rose the most, by 53.6 per cent. Petrol was 30 per cent more expensive and diesel 45.9 per cent," Trasanov said.

The consumer price index fell by 0.1% in December 2022 compared with November 2022 and rose by 17.6% compared with December 2021. Goods rose by 19.7 percent and services by 13.8 percent.

According to Trasanov, compared to December 2021, the consumer price index was most affected by changes in the prices of food and non-alcoholic beverages, which accounted for nearly 40% of the total increase. Among food products, sugar has risen the most, by 105.6 percent. Flour and starches have risen by 70.4%, eggs by 59.2% and sauces by 56.8%. The impact of changes in the prices of housing-related costs on the overall increase was just under 20 percent. "Gasoline was 13.1 percent more expensive and diesel 30.7 percent more expensive," Trasanov added.

Compared with November, the CPI was most affected by an 8.1% fall in the price of motor fuel and higher prices for food and non-alcoholic beverages.