Statistics: Producer Price Index rises nearly 5 percent on year to March

A pharmaceuticals factory in Tallinn.
A pharmaceuticals factory in Tallinn. Source: Siim Lõvi/ERR

The Producer Price Index (PPI) of industrial production in Estonia rose 4.8 percent on year to March 2021, state agency Statistics Estonia reports, primarily the result of a rise in electricity generation and the production of electronic equipment and the timber and wood products sectors.

Meanwhile the PPI, which characterizes a change in prices of industrial products manufactured in Estonia both for the domestic market and for export, fell slightly, by 0.2 percent between February and March of 2021.

Eveli Šokman, leading analyst at Statistics Estonia, said the PPI was most affected on year to March by the rise in prices in the production of electricity, electronic equipment and wood and timber products and in wood processing. 

"The fall in prices in the mining industry and in the production of food and electrical equipment also had an impact," Šokman said in a press release. 

On month, February to March, a fall in electricity generation prices exerted the most influence, mitigated by rises in wood and timber products, whose prices rose, and chemicals and chemical products, which saw the same.

Export price index

The export price index meanwhile rose 6.4 percent on year to March 2021 and by 1.5 percent February to March.

The sectors experiencing the largest rises were petroleum products' manufacture, chemicals and chemical products and paper and paper products, while the largest price falls were experienced in electricity generation, mining and beverage production, Statistics Estonia says.

Import price index

The import price index increased by 1.6 per cent in March compared with the previous month, Statistics Estonia says. Prices increased the most in the production of petroleum products, agricultural products and chemicals and chemical products. A fall in prices was experienced in electricity generation and mining, as with the export price index, and with electrical equipment production. On year to March 2021, the import price index increased by 3.4 percent.


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Editor: Andrew Whyte

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