Industrial output price index up almost a third on year to April
The industrial producer price index rose by 31.8 percent on year to April 2022, state agency Statistics Estonia says.
Leading analyst at Statistics Estonia Eveli Šokman said: "Prices rose by 22.5 percent in manufacturing as a whole, and the price increase in the manufacture of food products was 18.5 percent."
Compared with April last year, the index was primarily influenced by price increases in electricity and heat energy production and in the manufacture of wood and wood products, fabricated metal products and food products, Šokman added.
Between March and April 2022, the index rose by 2.8 percent.
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.
Price increases in the manufacture of timber and wood and wooden products, food products, and chemicals and chemical products, along with falling prices in electricity production, exerted the most influence between March and April 2022.
On year, the export price index increased by 25.4 percent.
The export price index rose by 2.8 percent over the same period, with the increase in prices found in the manufacture of paper and paper products, in the manufacture of wood products and in mining and quarrying.
Compared with April 2021, the import price index increased by 28.4 percent.
The import price index rose by 2.5 percent in April, compared with the previous month, i.e. March. The biggest price increases were recorded in mining and quarrying and in the manufacture of petroleum products and wood products.
Statistics Estonia collects and analyses data for the producer price index of industrial output, export price index and import price index for the Ministry of Economic Affairs and Communications, to understand how the Estonian economy is doing.
More detailed information is here and here.
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Editor: Andrew Whyte