Statistics: Industrial producer prices rose 1.1 percent on year to December

Higher wood product prices drove Estonia's producer price index up 1.1 percent on year to December 2024, state agency Statistics Estonia reported, with significant increases in manufacturing and food production, while export and import prices also saw notable changes.
Eveli Šokman, team lead of producer price statistics at Statistics Estonia, said that, compared with December 2023, the producer price index was most affected by price increases in the manufacture of wood and wood products, repair of machinery and equipment, and manufacture of food products.
She said: "Falling prices in electricity and heat energy production and in the manufacture of fabricated metal products and electrical equipment had the opposite effect on the index."
"Producer prices increased by 1.9 percent in manufacturing as a whole and by 2.6 percent in the manufacture of food products," Šokman went on.
The producer price index of industrial output, which expresses changes in the producer prices of industrial goods manufactured in Estonia both for the domestic market and for export, rose by 0.4 percent in December 2024 compared with November, and by 1.1 percent compared with December 2023 as noted.
Compared with November 2024, the index in December was primarily affected by price increases in the manufacture of wood and wood products, in electricity and heat energy production, and in the manufacture of food products.
The index was also influenced by falling prices in the manufacture of textiles, industrial machinery and equipment, and fabricated metal products.

Export price index
In December, the export price index rose by 1.4 percent compared with the preceding month.
Compared with December 2023, the export price index rose by 2.5 percent.
The largest price rises were posted for electricity, food products, and agricultural products.
Meanwhile prices fell the most for textiles, pharmaceutical products, and chemicals and chemical products.
Import price index
The import price index was up by 0.5 percent in December compared with November.
Compared with December 2023, the import price index rose by 1.3 percent.
Prices rose the most with respect to petroleum, food and agricultural products.
The largest falls were post in the prices of paper and paper products as well as metals and fabricated metal products.
Statistics Estonia conducted the above survey on behalf of the Ministry of Economic Affairs and Communications.
More detailed information is available from Statistics Estonia here and here.
--
Follow ERR News on Facebook and Twitter and never miss an update!
Editor: Andrew Whyte