Statistics: Industrial goods prices rise for third month in a row

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Plywood production, a mainstay of Estonia's exports. Source: Postimees/Scanpix

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 exports, rose 2.3 percent on year to January, state agency Statistics Estonia says.

The index also rose by 0.8 percent on the previous month, the agency says, which is the third row in a month they have risen, following a decline in the coronavirus-hit year of 2020.

Eveli Šokman, leading analyst at Statistics Estonia, says the change mostly resulted from price increases in electricity and heat production, and in the manufacture of wood and wooden products. 

Šokman said: "Price falls in mining and quarrying and in the manufacture of metal products and electrical equipment had an opposite impact on the index."

 

Producer price of industrial output, export and import price indices, 2019-present Source: Statistics Estonia

On year, the index was affected the most by price rises in electricity production, manufacture of electronic equipment, and manufacture of wood and wooden products of wood, while falls in price in the manufacture of fuel oils, chemicals and food products also made their effects known, Statistics Estonia says. 

Export and import price indices 

Compared with January 2020, the export price index fell by 2 percent to January 2021. 

On month, the export price index increased to a small extent, by 0.7 percent. Price rises affected oil products manufacture, electricity production and the manufacture of agricultural products the most.

The largest price falls were recorded for chemicals and building materials. 

The import price index fell by 4.4 percent on year and 1.7 percent on month, to January 2021. 

Prices rose the most in mining and quarrying, electricity production and manufacture of oil products. 

The most substantial price falls came with leather products and footwear, clothing and paper products. 

More detailed information is here

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Editor: Andrew Whyte

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