Statistics: Producer Price Index up 11.6 percent on year to February
The Producer Price Index (PPI) of industrial output rose by 11.6 percent on year to February, state agency Statistics Estonia says.
The PPI expresses changes in the producer prices of industrial goods manufactured in Estonia, both for the domestic market and for export; it fell by 0.2 percent between January and February 2023, Statistics Estonia adds.
Eveli Šokman, leading analyst at Statistics Estonia, reported that, compared with February 2022, the index was primarily impacted by rising prices in the manufacture of food products, wood products, and building materials.
Lower prices in the manufacture of fuel oils had the opposite effect on the index. The rise in producer prices stood at 12.1 percent in manufacturing as a whole, and 21.0 percent in the manufacture of food products when taken alone.
Compared with January, the PPI was most affected by falling prices in the manufacture of wood, electronic products, and paper and paper products.
The index was also influenced by price increases in electricity and heat production and in the manufacture of electrical equipment.
Compared with February 2022, the export price index rose by 13.0 percent.
In February, the export price index remained at the same level compared with January, while the largest rise was posted with electricity prices, clothing, and machinery and equipment.
The most significant fall in prices was recorded in mining and quarrying and for paper products and petroleum products.
The import price index rose by 9.6 percent on year to February 2023.
The import price index grew by 0.3 percent between January and February 2023.
The biggest increase was again registered in the prices of electricity, agricultural products, and leather products and footwear, Statistics Estonia says.
Prices fell the most in mining and quarrying, for paper products and with clothing.
Statistics Estonia collected and analyzed the above data on behalf of the Ministry of Economic Affairs and Communications.
More detailed information is here and here.
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Editor: Andrew Whyte