Electricity had biggest impact on producer price index in February

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Electricity pylon. Source: Siim Lõvi/ERR

In February 2021 the producer price index of industrial output increased by 1.0 percent compared to January and by 4.1 percent compared to February 2020. Electricity had the biggest impact.

The index shows the changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for export.

Eveli Šokman, leading analyst at Statistics Estonia, said compared to January, the producer price index was affected the most by increased prices in electricity production and in the manufacture of wood and wood products, fuel oils, and fabricated metal products.

"Price decreases in the manufacture of electronic products and electrical equipment had an opposite impact on the index," Šokman said.

Compared to February 2020, the index was also affected by price decreases in the manufacture of food products, electrical equipment, and chemicals.

In February, compared to January, the export price index rose by 1.8 percent. The biggest price increases occurred in the manufacture of oil products, electricity production, and mining and quarrying. Prices decreased in the manufacture of beverages, machinery and equipment n.e.c., and motor vehicles. Compared to February 2020, the export price index increased by 0.1 percent.

The import price index grew by 2.0 percent in February compared to January. Prices increased the most in electricity production, manufacture of oil products, and mining and quarrying. There was a fall in prices in the manufacture of furniture and the manufacture of beverages. Compared to February 2020, the import price index fell by 1.9 percent.

Producer price index. Source: Statistics Estonia.

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Editor: Helen Wright

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