Producer price index of industrial output fell by 1.9% year on year

News
Posted on 20 July 2023, 8:00

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 June 2023 compared with May and by 1.9% compared with June last year.

Eveli Šokman, leading analyst at Statistics Estonia, said that, compared with May, the producer price index was primarily affected by falling prices in the manufacture of wood and wood products, fabricated metal products, and chemicals and chemical products. “The index was also influenced by price increases in electricity production and in the manufacture of electronic products,” added Šokman.

Compared with June 2022, the index was most affected by price decreases in electricity production and in the manufacture of wood and fuel oils. Rising prices in the manufacture of food products, electrical equipment, and building materials had the opposite effect on the index. The decrease in producer prices was 0.3% in manufacturing as a whole and the increase in the manufacture of food products was 6.7%.

In June, the export price index fell by 0.5% compared with May. The biggest price decreases were recorded for paper, wood, and fabricated metal products. Prices increased the most in electricity production, in mining and quarrying, and for petroleum products. Compared with June 2022, the export price index fell by 2.3%.

The import price index grew by 0.1% in June compared with May. The biggest increase was registered in the prices of electricity, petroleum products, and paper products. Prices fell the most for agricultural products, in mining and quarrying, and for chemicals and chemical products. Compared with June 2022, the import price index fell by 2.6%.

Producer price index of industrial output, export price index and import price index (2010 = 100)

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.

When using Statistics Estonia’s data and graphs, please indicate the source.

For further information:

Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department

Statistics Estonia
Tel +372 625 9181
press [at] stat.ee (press[at]stat[dot]ee)

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