While the Producer Price Index (PPI) of industrial output rose by 7.9 percent on year to March, state agency Statistics Estonia says, last month it fell month-on-month, for the third time in a row.
The PPI, which expresses changes in the producer prices of industrial goods manufactured in Estonia both for the domestic market and for export, fell by 0.4 percent between February and March 2023, Statistics Estonia says.
Eveli Šokman, leading analyst at Statistics Estonia, said: "The index was ... influenced by price increases in the manufacture of wood and wood products and in the manufacture of electronic products."
Compared with February, the PPI was most affected by falling prices in electricity production and in the manufacture of fuel oils, food products, and fabricated metal products, Šokman added.
PPI change on year to March 2023, quick facts (Source: Statistics Estonia)
- Compared with March 2022, PPI was primarily influenced by rising prices in the manufacture of food products, wood products, and building materials.
- Falling prices in the manufacture of fuel oils, and in electricity production, exerted the opposite effect on the PPI.
- PPI rose by 17.8 percent in the manufacture of food products, and by 9.3 percent in manufacturing as a whole.
Export price index, quick facts (Source: Statistics Estonia)
- Compared with March 2022, the export price index rose by 9.1 percent.
- In March, the export price index fell by 0.8 percent compared with February.
- The biggest fall in prices was recorded for electricity, in mining and quarrying and for agricultural products. The largest rise was posted in the prices of leather products and footwear, and beverages.
Import price index, quick facts (Source: Statistics Estonia)
- Compared with March 2022, the import price index rose by 5.4 percent.
- Prices fell the most in respect of electricity, in mining and quarrying, with petroleum products and with chemicals and chemical products.
- The largest increase was registered in the prices of wearing apparel and agricultural products.
- The import price index fell by 0.8 percent in March compared with February.
Statistics Estonia collected and analyzed the data on which the above is based, on behalf of the Ministry of Economic Affairs and Communications.
Editor: Andrew Whyte
Source: Statistics Estonia