Producer price index continued to fall in January
According to Statistics Estonia, in January, the producer price index of industrial output fell by 0.7% compared to December 2019 and by 2.4% compared to January 2019.
In January, compared to December, the producer price index was affected more than average by price decrease in the production of electricity, electronic equipment and fuel oils. Price increase in the manufacture of wood and wood products and in mining and quarrying also had an impact on the index.
Compared to January 2019, the index was affected mainly by price decrease in electricity and heat energy supply, manufacture of paper products and electronic equipment but also by price increase in the manufacture of food products and fuel oils.
| Economic activity according to EMTAK 2008 | December 2019 – January 2020, % | January 2019 – January 2020, % |
|---|---|---|
| TOTAL | -0.7 | -2.4 |
| Manufacturing | -0.1 | -0.5 |
| Mining and quarrying | 4.2 | 2.8 |
| Electricity, gas, steam and air conditioning supply | -11.8 | -29.1 |
| Water supply; sewerage, waste management and remediation activities | 0.4 | -9.0 |
The export price index changed by 0.1% compared to December 2019. The prices of oil, agricultural products and peat products increased the most, while the prices of electricity, paper and wood products decreased. Compared to January 2019, the export price index remained unchanged.
The import price index changed by 0.5% compared to December 2019. The prices of oil and chemical products and building materials increased more than average, while the prices of electricity, leather products and footwear, rubber and plastic products decreased. The import price index increased by 1.7% compared to January 2019.
The statistics are based on the questionnaires “Producer price”, ”Export price” and “Import price”, the deadline of which was 6 February 2020. Statistics Estonia published the monthly summary of producer price indices in fourteen working days. Statistics Estonia performs the statistical activities “Producer price index of industrial output”, “Export price index” and “Import price index” for the Ministry of Economic Affairs and Communications.