Statistics: Producer price index falls 3.4 percent on year

The producer price index fell 3.4 percent on year to July 2020 (picture is illustrative).
The producer price index fell 3.4 percent on year to July 2020 (picture is illustrative). Source: Raul Mee/ Estonian Forest and Wood Industries Association

Industrial output fell by 3.4 percent by producer price index (PPI) on year to July 2020, and by 1.0 percent on the previous month, Statistics Estonia reports. This followed a rise in the PPI in June.

Statistics Estonia analyst Eveli Šokman said: ""In July, compared with June 2020, the PPI was affected more than average by a price fall in electricity supply, the manufacture of wood and food products and by price increases in the production of electrical equipment, peat products and gravel." 

Price falls in electricity and heat energy supply, compared with July last year, as well as in the production of electronic equipment and fuel oils also exerted an influence, the agency said. Price increases in the manufacture of metal products were also a factor. 

Electricity, forestry products, paper and paper products and textile products fell the most, while the prices of oil and peat products and agricultural products rose, Statistics Estonia says. 

Change in PPI of of industrial output by economic activity, July 2020. Source: Statistics Estonia

Oil and chemical products prices, and those for electrical equipment, rose at an above-average rate, while the prices of electricity, leather products and footwear and metal products fell. 

The export price index fell by 6.7 percent on year to July, and by 0.2 percent between June and July this year.

The import price index decreased by 6.1 percent on year, and rose by 0.6 percent between June and July this year. 

Statistics Estonia has published more detailed data here

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Editor: Andrew Whyte

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