Producer price index affected most by electricity price decrease
According to Statistics Estonia, in February, the producer price index of industrial output fell by 0.7% compared to January 2020 and by 2.6% compared to February 2019.
In February, compared to January, the producer price index was affected more than average by price decrease in the production of electricity, electronic equipment and fuel oils and in the manufacture of wood and wood products. Price increase in the manufacture of food products also had an impact on the index.
Compared to February 2019, the index was affected more than average by price decrease in electricity and heat energy supply, manufacture of electronic equipment and paper products, but also by price increase in the manufacture of metal products.
| Economic activity according to EMTAK 2008 | January 2020 – February 2020, % | February 2019 – February 2020, % |
|---|---|---|
| TOTAL | -0.7 | -2.6 |
| Manufacturing | -0.5 | -1.1 |
| Mining and quarrying | 0.1 | 3.0 |
| Electricity, gas, steam and air conditioning supply | -4.6 | -25.3 |
| Water supply; sewerage, waste management and remediation activities | 0.0 | -9.0 |
The export price index changed by -0.3% compared to January 2020. The prices of electricity, oil and peat products decreased the most, while the prices of leather products and footwear, textile products and electronic equipment increased. Compared to February 2019, the export price index decreased by 1.0%.
The import price index changed by -0.6% compared to January 2020. The prices of oil products, electricity, machines and equipment decreased more than average, while the prices of forest, agricultural and chemical products increased. The import price index increased by 0.3% compared to February 2019.
The statistics are based on the questionnaires “Producer price”, ”Export price” and “Import price”, the deadline of which was 6 March 2020. Statistics Estonia published the monthly summary of producer price indices in nine 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.