In February, electricity had the biggest impact on the producer price index
In February 2021, 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 1.0% compared to January and by 4.1% compared to February 2020.
According to Eveli Šokman, leading analyst at Statistics Estonia, compared to January, the producer price index was affected the most by increased prices in electricity production and in the manufacture of wood and wood products, fuel oils, and fabricated metal products. “Price decreases in the manufacture of electronic products and electrical equipment had an opposite impact on the index,” explained Šokman.
Compared to February 2020, the index was affected the most by price increases in electricity production, manufacture of electronic equipment, and manufacture of wood and products of wood. The index was also affected by price decreases in the manufacture of food products, electrical equipment, and chemicals.
In February, compared to January, the export price index rose by 1.8%. The biggest price increases occurred in the manufacture of oil products, electricity production, and mining and quarrying. Prices decreased in the manufacture of beverages, machinery and equipment n.e.c., and motor vehicles. Compared to February 2020, the export price index increased by 0.1%.
The import price index grew by 2.0% in February compared to January. Prices increased the most in electricity production, manufacture of oil products, and mining and quarrying. There was a fall in prices in the manufacture of furniture and manufacture of beverages. Compared to February 2020, the import price index fell by 1.9%.
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 dedicated section on prices.
More detailed data have been published in the statistical database.
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