In December, rising food prices had the biggest impact on the producer price index
The producer price index of industrial output, which expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for export, increased by 0.3% in December 2022 compared with November 2022 and by 16.6% compared with December 2021.
Eveli Šokman, leading analyst at Statistics Estonia, said that, compared with December 2021, the index was primarily influenced by higher prices in the manufacture of food products, wood products, and fabricated metal products, and by the falling prices of fuel oil. “The increase in prices was 16.4% in manufacturing as a whole, and 26.3% in the manufacture of food products,” added Šokman.
Compared with November, the producer price index was most affected by price increases in electricity and heat energy production, and in the manufacture of wood products and food products. The index was also impacted by price decreases in the manufacture of fuel oil and electronic products.
The export price index fell by 0.1% in December compared with November. The biggest price decreases occurred in the manufacture of petroleum products, fabricated metal products, and motor vehicles. The biggest price increases were recorded in electricity production, the manufacture of footwear and leather products, and the manufacture of beverages. Compared with December 2021, the export price index increased by 19.1%.
The import price index fell by 1.1% in December compared with November. The biggest decreases were registered in the prices of petroleum products, footwear and leather products, and building materials. The biggest rise in prices occurred in electricity production, mining and quarrying, and the manufacture of wearing apparel. Compared with December 2021, the import price index rose by 14.7%.
Statistics Estonia collects and analyses data for the producer price index of industrial output, export price index and import price index for the Ministry of Economic Affairs and Communications, to understand how the Estonian economy is doing.
See also the prices section on our website.
More detailed data have been published in the statistical database.
For further information:
Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee