Statistics: Producer price index rises 8.4 percent on year to May

Man working with wood (photo is illustrative).
Man working with wood (photo is illustrative). Source: Juhan Hepner/ERR

The producer price index of industrial output rose by 8.4 percent on year to May, a change mostly driven by rising prices in the manufacture of timber and wooden products, in electricity generation and in electronics goods' production, state agency Statistics Estonia reports.

Statistics Estonia lead analyst Eveli Šokman added that: "The index was also influenced by falling prices in the manufacture of electrical equipment," while the index, which expresses changes in producer prices of industrial goods manufactured in Estonia for both export and the domestic market, rose by 1.6 percent between April and May this year.

Between April and May, the main drivers of change came in the same sectors as the year-on-year figure, along with the manufacture of fabricated metal products and plastic products.

Conversely, on month to May, a fall in prices in the manufacture of electrical equipment exerted a downward pressure on the index.

Producer price index of industrial output, export price index and import price index Source: Statistics Estonia

The export price index rose by 1.5 percent between April and May, following an eight-month trend for a rise, while on year the index rose 11.1 percent, Statistics Estonia says.

The import price index also rose, by 1.1 percent, between April and May, with mining and quarrying also having an impact here.

The import price index has been rising six months in a row, the agency says, while the import price index increased by 11.9 percent.

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Editor: Andrew Whyte

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