Producer price index of industrial output down by 3.0% from last year
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, fell by 0.4% in October 2023 compared with September and by 3.0% compared with October last year.
Compared with October 2022, the index was most affected by price decreases in electricity production and in the manufacture of wood and paper. Higher prices in the manufacture of electrical equipment and industrial machinery and equipment had the opposite effect on the index.
Eveli Šokman, leading analyst at Statistics Estonia, said that, compared with September, the producer price index was primarily affected by price decreases in electricity and heat energy production and in the manufacture of fuel oils, electrical equipment, and electronic products. “The index was also affected by rising prices in the manufacture of wood products,” added Šokman.
In October, the export price index fell by 0.5% compared with September. The biggest price decreases were recorded for electricity, petroleum products, and electronic equipment. The greatest increase occurred in the prices of footwear and leather products, and food products. Compared with October 2022, the export price index fell by 2.4%.
The import price index declined by 0.3% in October compared with September. The biggest decrease was registered in the prices of electricity, petroleum products, and paper and paper products. Prices increased the most for wood products, in mining and quarrying, and for motor vehicles. Compared with October 2022, the import price index fell by 3.3%.
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.
When using Statistics Estonia’s data and graphs, please indicate the source.
For further information:
Marketing and Dissemination Department
Tel +372 625 9184
press [at] stat.ee