M.O.

Here at 'Lonely Estonian', we bring you just what the Baltics ordered: another blog about Estonia (see Blogroll). And when I say "we", I mean "me".

I'll post semi-regularly, delivering everything from the pressing news to the depressingly banal. As long as it has something to do with Estonia.

Even if you don't read any of my posts, you can at least use 'Lonely Estonian' as a hub to access all the better Estonia blogs out there (again, see Blogroll).

Sunday, March 9, 2008

Inflation Nation

According to new information from the Bank of Estonia, economic indicators here paint a sobering picture. From the Baltic Times:

Official figures reveal that the Estonian Consumer Price Index (CPI) basket became 0.4% more expensive in February, bringing year-on-year price growth to 11.3%. One grain of comfort is that the month-on-month price increase was considerably slower in February compared to the 2.2% increase in prices in January.

"Economic cooling, seen in the rapid decline in the volume of retail trade and industrial production, contributes to the easing of domestic price pressures. Compared to end-2007, wage growth has slowed, but the goverment should stimulate a further slowing with the help of fiscal policies," said Eesti Pank economist Martin Lindpere.

Bummer.







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