wiiw Forecast Reports

ESTONIA: Restraining inflation as a test for resilience


Maryna Tverdostup

in: Bracing for the Winter
wiiw Forecast Report No. Autumn 2022, October 2022 , pp. 84-87

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As the economic effects of the war in Ukraine gradually reveal themselves, the Estonian economy is heading for a difficult phase: inflation is extremely high; the foreign trade outlook is getting grimmer; and private consumption is being undermined by rocketing prices and shrinking savings. Yet, we expect the economic decline to be more of a dip, as energy prices are reined in, while purchasing power will be backed by state support and steady wage growth.


Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database

Countries covered: Estonia