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

Eveli Šokman, team lead of producer price statistics at Statistics Estonia, said, compared with May 2023, the index was most affected by price decreases in the manufacture of wood and wood products, in electricity and heat energy production, and in the manufacture of food products.

"Rising prices in the repair of machinery and equipment and in the manufacture of electronic equipment and fuel oils had the opposite effect on the index. Producer prices decreased by 0.8 percent in manufacturing as a whole and by 2.7 percent in the manufacture of food products," she noted.

Compared with April 2024, the index in May was primarily affected by price increases in electricity production and in the manufacture of wood and wood products and metal products. It was also influenced by falling prices in the manufacture of fuel oils.

Last month, the export price index rose by 1.6 percent compared with April. The greatest price increases were registered for electricity, for agricultural products, and in mining and quarrying. Prices of petroleum products, food products, and leather products and footwear declined the most. In comparison with May 2023, the export price index fell by 0.6 percent.

The import price index rose by 1.7 percent in May compared with April. Prices of electricity, mining and quarrying, and chemicals and chemical products increased the most. The greatest fall was seen in the prices of petroleum products, food products, and furniture. Compared with May 2023, the import price index increased by 0.3 percent.

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