In November, the producer price index increased by 1%
In November 2020, 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 exports, increased by 1.0% compared to October and decreased by 0.9% compared to November 2019.
According to Eveli Šokman, leading analyst at Statistics Estonia, compared to October, the producer price index was affected more than average by price increases in the manufacture of electronic equipment, electricity production as well in the manufacture of wood and products of wood. “Price decreases in the manufacture of metal products, paper and paper products, and furniture had an opposite impact on the index,” added Šokman.
Compared to November 2019, the index was affected more than average by price decreases in the manufacture of fuel oils, electricity and heat energy supply, manufacture of chemicals and chemical products, and electronic equipment. The increase in prices in the manufacture of electronic equipment and products of wood and in mining and quarrying also contributed to the index change.
|Economic activity according to EMTAK 2008||October 2020 – November 2020, %||November 2019 – November 2020, %|
|Mining and quarrying||0.0||5.3|
|Electricity, gas, steam and air conditioning supply||5.2||-5.5|
|Water supply; sewerage, waste management and remediation activities||0.0||-9.8|
The export price index increased by 0.9% compared to October 2020. Prices increased the most in electricity supply and in the manufacture of electronic equipment and oil products. The biggest price decreases were recorded in the manufacture of paper and paper products, mining and quarrying, and in the manufacture of plastic products. Compared to November 2019, the export price index fell by 4.4%.
Compared to October 2020, the import price index remained at the same level. Price increases affected electricity production, mining and quarrying, and manufacture of chemicals and chemical products. The fall in prices was driven by oil products, agricultural products and leather products and footwear. The import price index fell by 5.9% compared to November 2019.
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.
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