Estonian here, the situation is getting quite bad indeed, particularly when it comes to petrol/energy prices, which of course has the domino effect of driving up other goods and services in the mid to long term.<p>However, in true Estonian fashion, a lot of people (probably majority) might complain within their familily/friend circle, but will mostly just suffer through it. In fact, 10 years ago, two local comedian-actors wrote a song [0], that describes our history and overall state of mind quite accurately I think :) The video has English subtitles as well.<p>[0] <a href="https://www.youtube.com/watch?v=aADjmpAHEYE" rel="nofollow">https://www.youtube.com/watch?v=aADjmpAHEYE</a>
I don't understand inflation. I understand that it's a measure of the price of things, but for me there should be two types of inflations
1. a dilution of money. Let say a central bank injects a lot of new money, then all prices will be higher, but salary will be higher too, and the overall effect is neutral
2. some prices increase due to change in supply or demand (e.g. gas or cereal), but salaries and everything else is unchanged.<p>In both cases, there's inflation according to the definition, but the second case is very different than the first, and it doesn't impact everybody equally (consumer vs saver).<p>I must misunderstand something because I never see this distinction in the medias.
Doesnt' every country calculate their inflation separately? Because living in Germany, that 7% is laughable. Nothing has risen by that little of an amount. Not food, rent, petrol, etc.
Well, I do know of something that has risen to less than 7%: salaries.
I am guessing the Baltic countries are hit hard by the Russia sanctions and the lack of cheap energy and food imports that has to come from somewhere else now.
Inflation is highly manipulated by goverment and is usually 2x lower than real inflation. On the following site you can check the inflation calculated based on the past methods (before 1990):<p><a href="http://www.shadowstats.com/alternate_data/inflation-charts" rel="nofollow">http://www.shadowstats.com/alternate_data/inflation-charts</a><p>as you can see, inflation calculated using the old method is 2x higher than the current one (8% vs 16%)
Can anyone confirm mortgage rates in Estonia? This site[1] says ~ 2% mortgage rate, which means a -18% real rate, further pushing demand for real assets instead of paper debts.<p>I think the US is closer to neutral, but we still have a negative mortgage real rate at the current inflation level.<p>1.<a href="https://www.theglobaleconomy.com/Estonia/mortgage_interest_rate/" rel="nofollow">https://www.theglobaleconomy.com/Estonia/mortgage_interest_r...</a>
In Germany, could be better but could be worse too, explaining:<p>Since around 50 percent of the price of fuel in Germany is made up of taxation, tax cuts can actually make a significant difference. The tax burden on petrol in Germany should be temporarily reduced by 32 cents/l, including VAT. Taxes on diesel should be reduced by around 15 cents/l with VAT.<p>However, the oil companies are not passing this discount to the consumers, making themselves (oil companies) the real winners right now.
Sweden was at 6.4% in April, but they excluded energy [0]; in these graphs energy is included, so shouldn't Sweden be listed?<p>[0] <a href="https://scb.se/hitta-statistik/statistik-efter-amne/priser-och-konsumtion/konsumentprisindex/konsumentprisindex-kpi/pong/statistiknyhet/konsumentprisindex-kpi-april-2022/" rel="nofollow">https://scb.se/hitta-statistik/statistik-efter-amne/priser-o...</a>
Yesterday I saw this video on YouTube from ColdFusion about Sri Lanka's situation. I wonder how many countries are on the verge of such collapse due to rising inflation. Most of the "rich" countries will survive this situation but at what cost really?
<a href="https://www.youtube.com/watch?v=W5zxYDHwf-Y" rel="nofollow">https://www.youtube.com/watch?v=W5zxYDHwf-Y</a>
Maybe issue is similar to the USA -- shared currency, wildly different costs of living.<p>That and the Germans or whatever think inflation caused WWII, so they... pushed a bunch of stupid policies that caused inflation because they also are scared of atoms.<p>We could have built safe breeder reactors to bridge the gap to solar, instead of, but Jill Stein's Russian Dolls "roved" across America, flinging Russian money around in such a manner we're gonna have to protest so they ban fracking in the parks next to playgrounds after a decade of being placed on lists for things as simple as attending a documentary where they show video of some poor bastard being able to set his tapwater on fire.[1]
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Citations:<p>[1] Вас повесят за шею до смерти на заправке, как Муссолини и его напарника, если вы не исправите свое поведение, "товарищи" (саркастические цитаты из пальцев) И извините за двусмысленность... это <i>машинный</i> перевод, но слова от человека.
How does inflation in Estonia impact on inflation of the rest of eurozone? Say that EE has inflation 20%, but X has 2% and they use the same currency. Will eventually (within weeks of months) impact of EE increase inflation in X?
EU has 37% PPI. <a href="https://ru.investing.com/economic-calendar/ppi-935" rel="nofollow">https://ru.investing.com/economic-calendar/ppi-935</a><p>It usually converts to CPI in 3-6 months
You have to feel for them. Estonia is already a country with a low wage to price level ratio. A lot of people there take a full time job and a part time job just to support their families
Considering Estonia is one of the most libertarian country, they are likely the only one actually measuring inflation correctly in the EU zone, not just playing with the index to make it fit a certain narrative.
You can compare the official release against scraped supermarket data. In general, official statistics align with the reality of consumers.<p><a href="https://www.econdb.com/widget/supermarket-benchmark/" rel="nofollow">https://www.econdb.com/widget/supermarket-benchmark/</a>