Producer price index of industrial output fell by 4.4% year on year
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, increased by 0.1% in August 2023 compared with July and decreased by 4.4% compared with August last year.
Compared with August 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 electrical equipment and food products had the opposite effect on the index.
Eveli Šokman, leading analyst at Statistics Estonia, said that, compared with July, the producer price index was primarily affected by price increases in the manufacture of fuel oils, electronic products, and fabricated metal products. “The index was also influenced by price decreases in the manufacture of wood and wood products and in the manufacture of food products,” added Šokman.
In August, the export price index rose by 0.9% compared with July. The biggest price increases were recorded in electricity production, the manufacture of petroleum products, and mining and quarrying. Prices decreased the most for wearing apparel, paper and paper products, and food products. Compared with August 2022, the export price index fell by 2.7%.
The import price index rose by 1.1% in August compared with July. Prices increased the most in electricity production, for petroleum products, and in mining and quarrying. The biggest price decreases were registered for building materials, paper and paper products, and textiles. Compared with August 2022, the import price index fell by 5.2%.
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:
Helen Maria Raadik
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press [at] stat.ee