Producer prices of food products continued to rise in October

News
Posted on 21. November 2022 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, rose by 0.1% in October compared with September 2022 and by 23.5% compared with October 2021.

Eveli Šokman, leading analyst at Statistics Estonia, said that, compared with October 2021, the index was primarily influenced by rising prices in electricity and heat energy production and in the manufacture of food products and electronic products. “The overall price increase in manufacturing was 17.1%. In the manufacture of food products, prices rose by 26.4% (by 25.8% in September)”, added Šokman.

Compared with September, the producer price index was most affected by price increases in the manufacture of food products, electronic products, and building materials. The index was also impacted by price decreases in electricity production and in the manufacture of wood and wood products.

The export price index rose by 0.9% in October compared with September. The biggest price increases occurred in the manufacture of petroleum products, clothing, and electronic products. The biggest price decreases were recorded in electricity production, mining and quarrying, and the manufacture of wood products. Compared with October 2021, the export price index increased by 21.3%.

The import price index rose by 0.1% in October compared with September. The biggest price increases occurred in the manufacture of paper products, food products, and building materials. Prices fell most in mining and quarrying, electricity production, and in the manufacture of wood products. Compared with October 2021, the import price index increased by 21.0%.

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.

 

For further information:

Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia

Tel +372 625 9181
press [at] stat.ee

 

Photo: Shutterstock