Nine-month fall in Estonian producer price index stopped

Estonian Cell factory.
Estonian Cell factory. Source: Rene Kundla/ERR

In May, the producer price index of industrial output increased by 0.1 percent compared to April 2020 and decreased by 3.9 percent compared to May 2019, Statistics Estonia (Statistikaamet) reported.

Compared to April 2020, the export price index increased by 0.4 percent. The prices of electricity, chemical products and beverages increased the most, while the prices of parts and accessories for motor vehicles, textile products and wearing apparel decreased. However, compared to May 2019, the export price index decreased by 8.2 percent.

The import price index fell by 1.1 percent compared to April 2020. The prices of chemical and oil products, leather products and footwear decreased more than average, while the prices of electricity, electronic equipment and raw forest products increased. The import price index decreased by 9.2 percent compared to May 2019.

Eveli Šokman, leading analyst at Statistics Estonia, said the producer price index in May 2020, compared to April, was affected more than average by price increase in the production of fuel oils and electricity supply, which was offset by price decrease in the production of plastic and wood products and electronic equipment. 

Šokman said: "While in April, price decrease in the production of dairy products had a significant impact, in May, significant impact came from price increase in the same economic activity."

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

More detailed info on producer price index can be found here.


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Editor: Kristjan Kallaste

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