Statistics: Producer price index of industrial output fell 1.5 percent in 2023

The producer price index of industrial output fell by 1.5 percent on year to January, state agency Statistics Estonia reports.
However the index rose by 2 percent between December 2023 and January 2024.
The producer price index expresses changes in the producer prices of industrial goods manufactured in Estonia both for the domestic market and for export.
Commenting on the results, Eveli Šokman, team lead of producer price statistics with Statistics Estonia, said "Rising prices in the manufacture of electronic products had the opposite effect on the index.
Šokman added that compared with December 2023, the index was primarily affected by price increases in electricity production and in the manufacture of wood and wood products. Falling prices in the manufacture of fabricated metal products and electrical equipment also had an impact on the index.
On year the index was most affected by price decreases in the manufacture of wood and wood products, metal products, and chemicals.
Exports
The export price index rose by 2.1 percent between December and January. Prices increased the most in respect of electricity, paper and paper products, and textiles.
The largest price falls were recorded in mining and quarrying, with rubber and plastic products, and with fabricated metal products.
Compared with January 2023, the export price index fell by 0.6 percent.
Imports
The import price index rose by 2.5 percent in January compared with December. The greatest rise was registered in the prices of electricity, agricultural products, and beverages.
Prices fell the most with regard to footwear, furniture, and textiles and wearing apparel.
Compared with January 2023, the import price index rose by 1.0 percent.

More detailed information from Statistics Estonia is available here and here.
Editor: Andrew Whyte