October's producer price index (PPI) of industrial output, which expresses changes in the producer prices of industrial goods manufactured in the country for the domestic market and for export, increased by 0.1 percent on month and by 23.5 percent on year, Statistics Estonia said Monday.
Eveli Šokman, a leading analyst at Statistics Estonia, said that, compared with October 2021, the index was influenced primarily by rising prices in electricity and heat energy production and in the manufacture of food products and electronic products, according to a press release.
"The overall price increase in manufacturing was 17.1 percent," she said. "In the manufacture of food products, prices rose by 26.4 percent." Prices in the previous month had risen by 25.8 percent on year, she added.
Compared with September, the industrial PPI was affected the most by price increases in the manufacture of food products, electronic products and building materials. The index was also impacted by price decreases in electricity production and in the manufacture of wood and wood products.
Estonia's October export price index rose by 0.9 percent compared with the previous month. The biggest price increases occurred in the manufacture of petroleum products, clothing and electronic products. The biggest price decreases, meanwhile, were recorded in electricity production, mining and quarrying as well as the manufacture of wood products.
On year, October's export price index had increased by 21.3 percent.
The import price index, meanwhile, rose by 0.1 percent compared with September. The biggest price increases occurred in the manufacture of paper products, food products as well as building materials. Prices fell the most in mining and quarrying, electricity production and in the manufacture of wood products.
Compared with October 2021, the import price index had increased by 21 percent.
Editor: Aili Vahtla