Statistics: Electricity had biggest impact on producer price index in June

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The producer price index rose by 9.4 percent on year to June 2021 (picture is illustrative). Source: Raul Mee/ Estonian Forest and Wood Industries Association

The producer price index of industrial output rose by 9.4 percent on-year to June 2021, state agency Statistics Estonia reported on Tuesday.

The index rose by 2.6 percent between May and June.

"Falling prices in mining and quarrying and in the manufacture of beverages had an opposite effect on the index," Eveli Šokman, leading analyst at Statistics Estonia, said, adding that between May and June, the index was affected the most by price increases in electricity production and in the manufacture of timber products metal products and chemicals. The same factors apply over the year to June 2021, the agency says.

The producer price index of industrial output expresses the average change over time in the selling prices received by domestic producers for their output, in respect of industrial goods manufactured in Estonia, both when sold on the domestic market and when exported.

Changes in producer price index. Source: Statistics Estonia

Exports

The export price index rose by 12 percent on year to June 2021, and by 2.3 percent between May and June this year, Statistics Estonia says. The biggest price increases were observed in electricity production, the manufacture of petroleum products and in the manufacture of chemicals and chemical products.

The export price index has now been rising for nine consecutive months.

Imports

The import price index rose by 12.3 percent on year to June 2021, and by 2.7 percent between May and June this year, the agency says.

Prices increased the most in electricity production, in mining and quarrying and in the manufacture of petroleum products.

The import price index has been on the rise for seven months in a row now, the agency says.

More detailed information is here and here.

 

Editor: Andrew Whyte

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