In March, the producer price index increased by 4.8% year on year
In March 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 0.2% compared to February 2021 and increased by 4.8% compared to March 2020.
Eveli Šokman, leading analyst at Statistics Estonia, said that, compared to March 2020, the index was affected the most by increased prices in electricity production and in the manufacture of electronic equipment and wood and wood products. “The index was also influenced by price decreases in mining and quarrying and in the manufacture of food products and electrical equipment,” added Šokman.
Compared to February, the index was affected the most by falling prices in electricity production. Increased prices in the manufacture of wood and wood products and manufacture of chemicals and chemical products had an opposite impact on the index.
In March, compared to February, the export price index rose by 1.5%. The biggest price increases occurred in the manufacture of oil products, chemicals and chemical products, and paper and paper products. Prices decreased in electricity production, manufacture of beverages, and mining and quarrying. Compared to March 2020, the export price index increased by 6.4%.
The import price index rose by 1.6% in March compared to February. Prices increased the most in the manufacture of oil products, agricultural products, and chemicals and chemical products. A fall in prices occurred in electricity production, mining and quarrying, and manufacture of electrical equipment. Compared to March 2020, the import price index increased by 3.4%.
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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