In manufacturing, prices have risen for several months in a row
According to Statistics Estonia, 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, fell by 0.4% in November 2024 compared with October and by 0.1% compared with November last year.
Eveli Šokman, team lead of producer price statistics at Statistics Estonia, said that, compared with November 2023, the producer price index was most affected by price decreases in electricity and heat energy production and in the manufacture of fuel oils and fabricated metal products. “Increased prices in the manufacture of wood and wood products, in the repair of machinery and equipment, and in the manufacture of food products had the opposite effect on the index, so that prices in manufacturing as a whole rose by 1.1% in November. In manufacturing, prices have increased for several months now – by 1.1% in November, by 0.7% in October, and by 0.8% in September,” explained Šokman.
Compared with October 2024, the producer price index was mainly affected by price decreases in electricity production, in the manufacture of wood and wood products, and in the manufacture of plastic products. The index was also influenced by price increases in the repair of machinery and equipment, in the manufacture of food products, and in the manufacture of basic metals.
In November, the export price index fell by 0.9% compared with October. The greatest decrease was registered in the prices of electricity, agricultural products, and paper and paper products. Prices increased the most in mining, for food products and for electronic products. Compared with November 2023, the export price index increased by 0.8%.
The import price index rose by 0.2% in November compared with October. Prices increased the most for agricultural products, leather products and footwear, and chemicals and chemical products. The biggest decrease occurred in the prices of electricity, building materials, and rubber and plastic products. Compared with November 2023, the import price index declined by 0.2%.
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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For further information:
Heidi Kukk
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee