The PPI fell also by 1.0 percent between June and July this year.

The index expresses changes in the producer prices of industrial goods manufactured in Estonia both for the domestic market and for export.

Germo Valgenberg, lead analyst at Statistics Estonia, said that between June and July, the PPI was primarily affected by falling prices in the manufacture of timber, wood and wooden items, electronic products, and also plastic products.

"The index was also influenced by price increases in the manufacture of fuel oils," Valgenberg added.

On year to July, the PPI was most affected by price falls in electricity production and in the manufacture of wooden items, and of fuel oils.

Rising prices in the manufacture of food products and electrical equipment exerted the opposite effect on the index, the agency says.

Producer prices fell by 1.1 percent for manufacturing as a whole; with the manufacture of food products, prices rose by 5.8 percent.

Exports

In July this year, the export price index fell by 0.3 percent, compared with the preceding month, Statistics Estonia says.

Prices fell the most in the sectors of electricity production, in mining and quarrying, and for rubber and plastic products. The biggest price increases were recorded for wearing apparel, petroleum products, and electrical equipment. Compared with July 2022, the export price index fell by 3.0 percent.

Imports

Meanwhile the import price index fell by 4.9 percent. On year to July 2023, and by 0.9 percent between June and July this year.

Prices fell the most again in electricity production, in mining and quarrying, with agricultural products and in respect of wood products.

The biggest increase was posted in the prices of chemicals and chemical products, and petroleum products.

Statistics Estonia compiled the above data on behalf of the Ministry of Economic Affairs and Communications.

More detailed information from Statistics Estonia is here and here.

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