Producer price index of industrial output in Estonia fell by 1.9% year on year

Eveli Šokman, leading analyst at Statistics Estonia, said that, compared with May, the producer price index was primarily affected by falling prices in the manufacture of wood and wood products, fabricated metal products, and chemicals and chemical products. “The index was also influenced by price increases in electricity production and in the manufacture of electronic products,” added Šokman.

Compared with June 2022, the index was most affected by price decreases in electricity production and in the manufacture of wood and fuel oils. Rising prices in the manufacture of food products, electrical equipment, and building materials had the opposite effect on the index. The decrease in producer prices was 0.3% in manufacturing as a whole and the increase in the manufacture of food products was 6.7%.

In June, the export price index fell by 0.5% compared with May. The biggest price decreases were recorded for paper, wood, and fabricated metal products. Prices increased the most in electricity production, in mining and quarrying, and for petroleum products. Compared with June 2022, the export price index fell by 2.3%.

The import price index grew by 0.1% in June compared with May. The biggest increase was registered in the prices of electricity, petroleum products, and paper products. Prices fell the most for agricultural products, in mining and quarrying, and for chemicals and chemical products. Compared with June 2022, the import price index fell by 2.6%.