Producer price index falls 0.5 percent on year
Estonia's producer price index (PPI) of industrial output decreased by 1.6 percent in September 2024 compared with August and by 0.5 percent compared with September last year, data from Statistics Estonia show.
The PPI shows the 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 September 2023, the producer price index was most affected by price decreases in electricity and heat energy production and in the manufacture of fuel oils.
"Rising prices in the manufacture of wood and wood products, repair of machinery and equipment, and manufacture of electronic equipment had the opposite effect on the index. Producer prices increased by 0.8% in manufacturing as a whole and decreased by 0.8 percent in the manufacture of food products," Šokman noted.
Compared with August 2024, the September index was primarily affected by price decreases in electricity and heat energy production and in the manufacture of fuel oils.
Rising manufacturing prices of food and plastic products and peat extraction also played a part.
In September, the export price index fell by 1.2 percent compared with August.
The greatest decrease was registered in the prices of electricity, petroleum products, and paper and paper products. Prices increased the most for rubber and plastic products, in mining and quarrying, and for building materials. Compared with September 2023, the export price index was down by 1.1 percent.
The import price index fell by 2.0 percent in September compared with August. Prices decreased the most for electricity, petroleum products, and chemicals and chemical products.
The biggest price increases were recorded for fabricated metal products, rubber and plastic products, and wearing apparel. Compared with September 2023, the export price index was down by 1.8 percent.
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Editor: Helen Wright