Higher prices of wood products had the biggest impact on the producer price index in December
The producer price index of industrial output, which expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for export, rose by 0.4% in December 2024 compared with November and by 1.1% compared with December 2023.
Eveli Šokman, team lead of producer price statistics at Statistics Estonia, said that, compared with December 2023, the producer price index was most affected by price increases in the manufacture of wood and wood products, repair of machinery and equipment, and manufacture of food products. “Falling prices in electricity and heat energy production and in the manufacture of fabricated metal products and electrical equipment had the opposite effect on the index. Producer prices increased by 1.9% in manufacturing as a whole and by 2.6% in the manufacture of food products,” Šokman pointed out.
Compared with November 2024, the index in December was primarily affected by price increases in the manufacture of wood and wood products, in electricity and heat energy production, and in the manufacture of food products. The index was also influenced by falling prices in the manufacture of textiles, industrial machinery and equipment, and fabricated metal products.
In December, the export price index rose by 1.4% compared with November. The biggest price increases were registered for electricity, food products, and agricultural products. Prices fell the most for textiles, pharmaceutical products, and chemicals and chemical products. Compared with December 2023, the export price index rose by 2.5%.
The import price index was up by 0.5% in December compared with November. Prices increased the most for petroleum, food and agricultural products. The greatest decreases were registered in the prices of paper and paper products as well as metals and fabricated metal products. Compared with December 2023, the import price index rose by 1.3%.
Statistics Estonia collects and analyses data for the producer price index of industrial output, export price index and import price index for the Ministry of Economic Affairs and Communications, to understand how the Estonian economy is doing.
See also the prices section on our website. More detailed data have been published in the statistical database.
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Heidi Kukk
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Statistics Estonia
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