Statistics: Producer price index up 4.2 percent on year to April
According to data provided by Statistics Estonia, the producer price index (PPI) of industrial output, increased by 4.2 percent on year to April 2023.
Despite the increase in year, the PPI, which expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for export, decreased by 0.7 percent between March and April 2023.
Eveli Šokman, leading analyst at Statistics Estonia, said that, compared with March, the producer price index was primarily affected by falling prices in electricity and heat energy production as well as in the manufacturing of fuel oils, fabricated metal products, and electronic products. "The index was also influenced by price increases in the manufacture of wood," Šokman added.
Compared with April 2022, the PPI was most affected by rising prices in the manufacturing of food products, building materials, and electrical equipment. Lower prices in the manufacturing of fuel oils and in electricity production had the opposite effect on the index. The increase in producer prices was 5.2 percent for manufacturing as a whole and 13.6 percent in the manufacturing of food products.
The export price index fell by 0.6 percent between March and April. The biggest fall in prices was recorded for electricity, as well as in mining and quarrying, and for agricultural products. The biggest increase occurred in the prices of wearing apparel, furniture, chemical products, and electrical equipment. When compared with April 2022, the export price index rose by 5.5 percent on year.
The import price index fell by 0.4 percent between March and April 2023. Prices decreased the most for electricity, along with mining and quarrying, and metals. The biggest increase affected the prices of wood products, furniture, and industrial machinery and equipment. Compared with April 2022, the import price index was up by 2.4 percent.
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Editor: Michael Cole