October 26, 2023
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, increased by 0.7% in September 2023 compared with August and decreased by 2.5% compared with September last year.
Compared with September 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 food products had the opposite effect on the index.
Eveli Šokman, leading analyst at Statistics Estonia, said that, compared with August, the producer price index was primarily affected by price increases in electricity and heat energy production and in the manufacture of fuel oils and electronic products. “The index was also influenced by price decreases in the manufacture of wood and wood products and in the manufacture of food products,” added Šokman.
In September, the export price index rose by 1.1% compared with August. The biggest increase occurred in the prices of petroleum products, electricity, and chemicals and chemical products. The biggest price decreases were recorded in mining and quarrying, for wood products, and agricultural products. Compared with September 2022, the export price index fell by 1.0%.
The import price index rose by 1.4% in September compared with August. Prices increased the most in electricity production, for agricultural products, and petroleum products. The biggest decrease was registered in the prices of wood products, furniture, and electronic products. Compared with September 2022, the import price index fell by 2.9%.
Source: Statistics Estonia
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