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Statistics: Industrial price index up nearly 20 percent on year to November

The industrial production index refers to the economic indicators of three sectors: Mining and quarrying, energy and manufacturing.
The industrial production index refers to the economic indicators of three sectors: Mining and quarrying, energy and manufacturing.

The producer price index of industrial output rose on year to November by 19.1 percent, state agency Statistics Estonia reports. The rise was affected most by soaring electricity prices in recent months.

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

The index rose by 1.1 percent between October and November this year, Statistics Estonia says, while the agency's leading analyst Eveli Šokman said that while the rise and rise of electricity prices, which started in late summer, exerted the most upward pressure: "Falling prices in the manufacture of wood and metal products had the opposite impact on the index."

The index was affected the most by price increases in electricity production and in the manufacture of parts and accessories for motor vehicles, fuel oils, paper and food products, Šokman added.

On year, the producer price index was primarily affected by price increases in the timber industry and in wooden products, in electricity production and in the manufacture of metal products.

Between October and November, the most significant price increases occurred in electricity production, in the manufacture of paper and paper products as well as agricultural products.

Prices fell the most for oil products and wood products over that time frame.

Export price index

The export price index rose by 20.8 percent on year to November, and has been rising for 14 consecutive months as of November

Import price index

The import price index increased by 24.8 percent on year to November, Statistics Estonia says, and has similarly been on the rise for twelve months in a row, and rose by 2 percent October to November.

Prices rose the most in mining and quarrying, electricity production and manufacture of chemical products.

Prices fell most significantly in the manufacture of wooden products, construction materials and textile products.

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

More detailed information is here and here.

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Editor: Andrew Whyte

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