Statistics: Producer Price Index rises 6.8 percent on year to April

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Timber - photo is illustrative. Source: Margus Muld/ERR

Industrial prices rose nearly 7 percent on year to April, state agency Statistics Estonia reports, an increase driven mainly by the timber and timber manufacturing sectors.

Eveli Šokman, leading analyst at Statistics Estonia, said that, compared with March, the producer price index of industrial output, was affected the most by increased prices in the manufacture of wood and wood products, fabricated metal products and plastic products.

"At the same time, falling prices in the manufacture of fuel oils and wearing apparel had an opposite impact on the index," Šokman added.

The producer price index rose by 6.8 percent on year to April, and by 1.6 percent between March and April this year.

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

On year, the index was affected the most by increased prices in electricity production, manufacture of wood and wood products and manufacture of electronic equipment, and also by falling prices in the manufacture of textiles.

Industrial output producer price index Source: Statistics Estonia

Between March and April this year, the export price index rose by 1.3 percent, with the largest price increases taking place in the manufacture of paper and paper products, electricity production and manufacture of rubber and plastic products.

Prices fell the most over this period in the manufacture of footwear and refined petroleum products. Compared with April 2020, the export price index increased by 9.9 percent, Statistics Estonia says.

The import price index rose by 1.5 percent between March and April.

Prices increased the most in the manufacture of wood products and chemical products and in electricity production. The biggest fall in prices occurred in the manufacture of footwear and wearing apparel. Compared with April 2020, the import price index increased by 9.4 percent, the agency says.

More detailed information is here and here.

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Editor: Andrew Whyte

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