Statistics: December producer price index up 16.6 percent on year

Borodinsky dark rye bread being produced at a bread factory.
Borodinsky dark rye bread being produced at a bread factory. Source: Margus Muld/ERR

The producer price index (PPI) of industrial output, which expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market as well as for export, increased by 0.3 percent on month and 16.6 percent on year in December, Statistics Estonia said Friday.

Compared with December 2021, the PPI was influenced primarily by higher prices in the manufacture of food products, wood products and fabricated metal products, as well as by falling fuel oil prices, explained Eveli Šokman, leading analyst at Statistics Estonia, in a press release.

"The increase in prices was 16.4 percent in manufacturing as a whole, and 26.3 percent in the manufacture of food products," she highlighted.

Compared with the previous month, December's PPI was most affected by price increases in electricity and heat energy production, as well as in the manufacture of wood products and food products. The index was also impacted by price decreases in the manufacture of fuel oil and electronic products.

December's export price index fell by 0.1 percent on month. The biggest price decreases occurred in the manufacture of petroleum products, fabricated metal products and motor vehicles. The biggest price increases, meanwhile, were recorded in electricity production,the manufacture of footwear and leather products and the manufacture of beverages.

On year, December's export price index went up 19.1 percent.

Last month's import price index fell by 1.1 percent compared with November. The biggest decreases were registered in the prices of petroleum products, footwear and leather products as well as of building materials. The biggest increase in prices, meanwhile, occurred in electricity production, mining and quarrying, as well as the manufacture of wearing apparel.

On year, December's import price index rose by 14.7 percent.


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Editor: Aili Vahtla

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