Statistics: Industrial producer price index in decline for eight months ({{contentCtrl.commentsTotal}})

Eesti Energia is struggling with unfair competition from electricity generated in Russia and Belarus.
Eesti Energia is struggling with unfair competition from electricity generated in Russia and Belarus. Source: Siim Lõvi /ERR

In March, the producer price index of industrial output fell by 0.9 percent compared to February 2020 and by 3.5 percent compared to March 2019, data from Statistics Estonia shows.

In March, compared to February, the producer price index was affected more than average by price decrease in the production of fuel oils, electricity and heat energy supply and in the production of chemicals. Price increases in mining and quarrying and in the manufacture of food products also had an impact on the index.

Compared to March 2019, the index was affected more than average by price decrease in electricity and heat energy supply, in the manufacture of fuel oils, electronic equipment, and wood and wood products, but also by price increase in the manufacture of metal products and in mining and quarrying.

The export price index changed by -4.6 percent compared to February 2020. The prices of oil and chemical products and electricity decreased the most, while the prices of peat products and furniture increased. Compared to March 2019, the export price index decreased by 5.9 percent.

The import price index changed by -3.7 percent compared to February 2020. The prices of oil products, electricity and chemical products decreased more than average, while the prices of rubber and plastic products, leather products and footwear, and pharmaceutical products increased. The import price index decreased by 3.6 percent compared to March 2019.

The producer price index of industrial output, as well as the export and import price indices, were mainly affected by the price decrease of oil products on the global market.

Change in producer price index of industrial output by economic activity, March 2020. Source: Statistics Estonia.

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Editor: Helen Wright

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