In August, the producer price index rose by 15.5%
In August 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 1.7% compared to July 2021 and by 15.5% compared to August 2020.
According to Eveli Šokman, leading analyst at Statistics Estonia, compared to both this year’s July and last year’s August, the index was more affected by price increases in the manufacture of wood and wood products, in electricity production and in the manufacture of metal products. “Also the prices of electronic products had an impact on the producer price index change: they fell compared to July but rose compared to last year’s August,” added Šokman.
In addition, price decreases in the manufacture of textiles and fuel oils had an effect on the index. Compared to last year’s August, the index was affected also by price decreases in textile manufacturing and in mining and quarrying.
In August, compared to July, the export price index rose by 1.1%. The biggest price increases occurred in the manufacture of agricultural products, wood products and in mining and quarrying. Prices fell the most in the manufacture of oil products, textile products and footwear. The export price index has been rising for eleven consecutive months. Compared to August 2020, the export price index increased by 15.6%
The import price index rose by 1.2% in August compared to July. Prices increased the most in mining and quarrying, in the manufacture of wood products and in electricity production. The biggest price decreases occurred in the manufacture of oil products, furniture products and textile products. The import price index has been on the rise for nine months in a row. Compared to August 2020, the import price index increased by 15.2%.
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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