The producer price index of industrial output fell by 3.0 percent on year to October 2023, state agency Statistics Estonia reports.
The index also fell by 0.4 percent, between September and October this year.
The producer price index expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for export.
Eveli Šokman, leading analyst at Statistics Estonia, said of the recent results that: "The index was also affected by rising prices in the manufacture of wood products."
On year, the index was most affected by price falls in electricity production and in the manufacture of wooden producst, and of paper.
Higher prices in the manufacture of electrical equipment and industrial machinery and equipment exerted the opposite effect on the index.
Eveli Šokman added that between September and October, the producer price index was primarily affected by price falls in electricity and heat energy production (referring to district heating mainly), and in the manufacture of fuel oils, electrical equipment, and electronic products.
The export price index fell by 2.4 percent on year to October, Statistics Estonia says, and by 0.5 percent compared with September.
The biggest price drops were posted in electricity, petroleum products, and electronic equipment.
The largest rises occurred in the prices of footwear and leather products, and food products.
The import price index fell by 3.3 percent on year to October, and by 0.3 percent between September and October, Statistics Estonia says.
The most significant prices falls were registered again with electricity, petroleum products, and paper and paper products.
Prices rose the most for wooden products, in mining and quarrying, and also for motor vehicles.
Statistics Estonia compiled the above research on behalf of the Ministry of Economic Affairs and Communications.
Editor: Andrew Whyte