Statistics: Producer Price Index rises 0.7 percent on year ({{contentCtrl.commentsTotal}})

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The producer price index fell 0.7 percent on year to December 2020 (picture is illustrative). Source: Raul Mee/ Estonian Forest and Wood Industries Association

The Producer Price Index (PPI) for industrial output rose 0.7 percent on year to December 2020, and by the same figure between November and December 2020, state agency Statistics Estonia reports.

The PPI fell 3.4 percent on year through to summer, but gradually the year-on-year decline starting reducing though the second half of 2020 and into 2021.

Eveli Šokman, leading analyst at Statistics Estonia, said changes in the PPI November-December 2019 were influenced primarily by price increases in electricity production, the manufacture of electronic equipment and the manufacture of wood and products of wood.

Šokman said: "Price decreases in the manufacture of food products, in mining and quarrying and in the manufacture of beverages had an opposite impact on the index."

The PPI expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for exports.

On year, the PPI was similarly affected the most by price increases in the manufacture of electronic equipment, electricity production and in the manufacture of wood and products of wood, Statistics Estonia says, though price falls in the manufacture of fuel oils, food products and paper products also had an impact.

PPI of industrial output, export price index and import price index (2010=100) Source: Statistics Estonia

Between November and December 2020, the export price index rose by 1.4 percent, the agency says, with, again, inflation in electricity production prices, the manufacture of oil products and electronic equipment being significant.

The largest price falls were recorded in the manufacture of beverages, electrical equipment and furniture. Compared with December 2019, the export price index fell by 2.6 percent, Statistics Estonia says.

The import price index rose by 0.8 percent over the same period, November to December 2020, with, again, prices increasing the most in electricity production, manufacture of oil products and manufacture of agricultural products.

Price falls were largest in the manufacture of leather products and footwear and manufacture of food products. The import price index fell by 5.4 percent on year to December 2020.

More detailed information is available here and here.

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Editor: Andrew Whyte

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