According to the Statistics Estonia data, consumer prices increased by 3.2% compared to the previous year and by 0.75% compared to January. A significant contributor to the inflation in Estonia has been the rise in food prices, which constitutes a large part of the consumer price index. Luminor's chief economist, Lenno Uusküla, noted that January brought unexpected increases in electricity prices and suggests that food prices are likely to continue rising in February, which could further impact inflation rates.

Uusküla highlighted that food prices increased by 1.1% compared to January and by 4.5% year-on-year. This noticeable rise was echoed by Kristjan Anderson, head of business at Selver, confirming the ongoing trend of increasing food prices over the first two months of the year. Notably, fresh pork has seen the most significant increase, with consumers already feeling the impact on ground meat prices.

Anderson anticipates that the average price increase for food items throughout the year will remain below 5%. This continuation of price rises for food products indicates that inflation remains a pressing issue for consumers in Estonia, and the government may need to monitor this closely to mitigate potential economic repercussions.