Producer price index of industrial output rose by 22.4% 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 0.2% in November compared with October 2022 and by 22.4% compared with November 2021.
Eveli Šokman, leading analyst at Statistics Estonia, said that, compared with November 2021, the index was primarily influenced by rising prices in electricity and heat energy production, and in the manufacture of food products and fabricated metal products. “The overall price increase in manufacturing was 16.4%. In the manufacture of food products, prices rose by 26.8%,” added Šokman.
Compared with October, the producer price index was most affected by price increases in electricity and heat energy production, and in the manufacture of food products and building materials. The index was also impacted by price decreases in the manufacture of electronic products and fuel oil.
The export price index in November remained unchanged compared with October. The biggest price increases occurred in electricity production as well as in the manufacture of furniture and machinery and equipment. The biggest price decreases were recorded in the manufacture of petroleum products, paper products, and pharmaceutical products. Compared with November 2021, the export price index increased by 20.2%.
The import price index fell by 0.5% in November compared with October. The biggest increases were seen in the prices of electricity production and in the manufacture of building materials and tobacco products. Prices fell most in mining and quarrying and in the manufacture of wood products and agricultural products. Compared with November 2021, the import price index rose by 18.0%.
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.
For further information:
Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee