Producer price index of industrial output rose by 0.8% year on 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 0.3% in May 2023 compared with April and rose by 0.8% compared with May last year.
Eveli Šokman, leading analyst at Statistics Estonia, said that, compared with April, the producer price index was primarily affected by falling prices in electricity and heat energy production and in the manufacture of fuel oils and paper. “The index was also influenced by price increases in the manufacture of wood and wood products and electronic products,” added Šokman.
Compared with May 2022, the index was most affected by rising prices in the manufacture of food products, electrical equipment, and industrial machinery and equipment. Falling prices in electricity and heat energy production and in the manufacture of fuel oils and wood had the opposite effect on the index. The increase in producer prices was 2.6% in manufacturing as a whole and 9.6% in the manufacture of food products.
In May, the export price index fell by 0.5% compared with April. The biggest price decreases were recorded in mining and quarrying, for petroleum products, chemicals, and paper products. Prices of wood products, leather products and footwear, and electronic products increased the most. Compared with May 2022, the export price index rose by 1.6%.
The import price index fell by 0.3% in May compared with April. Prices decreased the most in mining and quarrying, for petroleum products, and agricultural products. The biggest increase was registered in the prices of industrial machinery and equipment and motor vehicles. Compared with May 2022, the import price index fell by 0.4%.
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 prices section on our website.
More detailed data have been published in the statistical database.
For further information:
Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee (press[at]stat[dot]ee)