Statistics: industrial output price index fell by 2.5 percent in September

Timber industry (photo is illustrative).
Timber industry (photo is illustrative). Source: Ministry of Economic Affairs and Communications

The producer price index (PPI) of industrial output fell by 2.5 percent on year to September, state agency Statistics Estonia reports.

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

There was a 0.7-percent rise in the PPI between August and September 2023.

Commenting on the results, Eveli Šokman, leading analyst at Statistics Estonia, said: "The index was also influenced by price falls in the manufacture of wood and wooden items, and in the manufacture of food products."

Compared with September 2022, the PPI was most affected by price falls in electricity production and in the manufacture of wood and paper.

Higher prices in the manufacture of electrical equipment and food products, however, exerted the opposite effect on the index.

Eveli Šokman noted that between August and September this year, the PPI was primarily impacted upon by price increases in electricity and heat energy production, and in the manufacture of fuel oils and electronic products.

PPI changes. Source: Statistics Estonia

Exports in September, quick facts (Source: Statistics Estonia)

On year, the export price index fell by 1.0 percent.

Export price index rose by 1.1 percent between September and August this year.

Largest rises seen in the prices of petroleum products, electricity, and chemicals and chemical products.

Greatest falls recorded in mining and quarrying, for wood products, and agricultural products.

Imports in September, quick facts (Source: Statistics Estonia)

On year to September 2023, the import price index fell by 2.9 percent.

The import price index rose by 1.4 percent in September compared with August.

Prices rose the most in electricity production, with agricultural products, and petroleum products.

The largest price falls were posted in the prices of wooden items, furniture, and electronic products.

Statistics Estonia collected 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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Editor: Andrew Whyte

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