Statistics: Industrial output producer price index down 0.5 percent on year
The producer price index of industrial output in Estonia fell by 0.5 percent on year to June, state agency Statistics Estonia says.
The producer price index expresses changes in the producer prices of industrial goods manufactured in Estonia both for the domestic market and for export.
The index rose by 0.7 percent between May and June this year.
Commenting on the results, Eveli Šokman, team lead of producer price statistics at Statistics Estonia, said that: "Rising prices in the manufacture of fuel oils, repair of machinery and equipment, and manufacture of electronic equipment had the opposite effect on the index."
"Producer prices decreased by 0.2 percent in manufacturing as a whole and by 3.4 percent in the manufacture of food products," Šokman went on.
Compared with June 2023, the producer price index was most affected by price decreases in the manufacture of wood, timber and wooden products and in electricity and heat energy production, as well as in the manufacture of food products, Šokman noted.
Between May and June this year the index was primarily affected by price rises in electricity production, and again also by falling prices in the manufacture of food products, and in the repair of machinery and equipment.
Exports
On month to June, the export price index rose by 0.6 percent, the agency says.
The most significant price increases were registered for electricity, building materials, and mining and quarrying.
Prices of chemicals, agricultural products, motor vehicles, and furniture fell the most.
Compared with June 2023, the export price index rose by 0.4 percent.
Imports
The import price index rose by 0.8 percent in June compared with May. The most significant price increases were recorded in electricity, mining and quarrying, and industrial machinery and equipment.
Prices of agricultural products, chemicals and chemical products, and petroleum products fell by the most.
On year, the import price index rose by 0.9 percent to June 2024.
Statistics Estonia assembled the data referred to above for the producer price index of industrial output, export price index and import price index, on behalf of the Ministry of Economic Affairs and Communications.
More detailed information is available in English from Statistics Estonia's website here and here.
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Editor: Andrew Whyte
