In October, the industrial producer price index decreased
In October 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, decreased by 0.1% compared to September 2021 and increased by 19.0% compared to October 2020.
According to Eveli Šokman, leading analyst at Statistics Estonia, compared to September, the index was affected the most by price decreases in the manufacture of wood and in electricity production. “Rising prices in the manufacture of metal products and food products had the opposite impact on the index,” added Šokman.
Compared to October 2020, the producer price index was primarily affected by price increases in the manufacture of wood and wood products, in electricity production and in the manufacture of metal products.
In October, compared to September, the export price index rose by 2.4%. The biggest price increases occurred in the manufacture of oil products, metal products and textile products. Prices fell the most in electricity production and in the manufacture of paper products. The export price index has been rising for thirteen consecutive months. Compared to October 2020, the export price index increased by 20.6%.
The import price index rose by 3.3% compared to the previous month. Prices increased the most in mining and quarrying, in the manufacture of oil products and in agricultural production. Prices decreased the most in electricity production, in the manufacture of wood products and in the manufacture of textile products. The import price index has been on the rise for eleven months in a row. Compared to October 2020, the import price index increased by 22.3%.
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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