Producer prices rose by 19 percent year-on-year in October

In October 2021, the producer price index of industrial output increased by 19 percent compared to October 2020, data from Statistics Estonia show. It decreased by 0.1 percent compared to September.

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

Eveli Šokman, leading analyst at Statistics Estonia, said compared to September, the index was affected the most by price decreases in the manufacture of wood and in electricity production. 

"Rising prices in the manufacture of metal products and food products had the opposite impact on the index," she added.

Compared to October 2020, the producer price index was mostly affected by price increases in the manufacture of wood and wood products, in electricity production and in the manufacture of metal products.

In October, compared to September, the export price index rose by 2.4 percent.

The biggest price increases occurred in the manufacture of oil products, metal products and textile products.

Prices fell the most in electricity production and in the manufacture of paper products. The export price index has been rising for 13 consecutive months.

Compared to October 2020, the export price index increased by 20.6 percent.

The import price index rose by 3.3 percent compared to the previous month.

Prices increased the most in mining and quarrying, in the manufacture of oil products and in agricultural production.

Prices decreased the most in electricity production, in the manufacture of wood products and in the manufacture of textile products.

The import price index has been on the rise for eleven months in a row. Compared to October 2020, the import price index increased by 22.3 percent.

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Editor: Helen Wright

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