Statistics: Producer price index up 15 percent on year to July

Timber industry.
Timber industry. Source: Margus Muld/ERR

The producer price index of industrial output increased by 4 percent compared to June 2021 and 14.8 percent compared to July 2020, a change mostly contributed to wood manufacturing and products, state agency Statistics Estonia reported.

According to Statistics Estonia analyst Eveli Šokman, the index, was affected the most by price increases in the manufacture of wood and wood products. "Compared to July 2020, prices in the wood processing industry rose by 31.8 percent," Šokman added.

In addition to price growth in the manufacture of wood and wood products, a significant impact on the index came from higher prices of electricity and metal products, also compared to June of this year and July of last year.

In July, compared to June, the export price index rose by 2.3 percent. The biggest price increases occurred in electricity production, in the manufacture of wood products, and in the manufacture of paper and paper products.

Prices fell the most in the manufacture of wearing apparel, in the manufacture of electronic equipment and in textile manufacturing. The export price index has been rising for ten consecutive months. Compared to July 2020, the export price index increased by 14.9 percent.

The import price index rose by 2.3 percent in July compared to June. Prices increased most in electricity production, in mining and quarrying and in the manufacture of wood products.

The biggest price decreases occurred in the manufacture of footwear, in the manufacture of agricultural products and in the manufacture of wearing apparel. The import price index has been on the rise for eight months in a row. Compared to July 2020, the import price index increased by 14.2 percent.

Producer price index of industrial output, export price index and import price index, July 2019 - July 2021. Source: Statistics Estonia

See more data on prices here. See also Statistics Estonia's full database.


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Editor: Kristjan Kallaste

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