In January, the producer price index of industrial output fell by 1.0% compared with the previous month
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, decreased by 1.0% in January 2023 compared with December 2022 and increased by 12.7% compared with January 2022.
Eveli Šokman, leading analyst at Statistics Estonia, said that, compared with January 2022, the index was primarily influenced by rising prices in the manufacture of food products, wood products, and building materials. Price decreases in electricity production and in the manufacture of fuel oils had an opposite effect on the index. “The overall price increase in manufacturing was 13.5%. In the manufacture of food products, prices rose by 22.2%,” added Šokman.
Compared with December, the producer price index was most affected by a decrease in the price of electricity production, as well as by price increases in the manufacture of electrical equipment and food products.
The export price index fell by 1.1% in January compared with December. The biggest price decreases occurred in electricity production, mining and quarrying, and the manufacture of paper products. The largest price increases were recorded in the manufacture of textiles, wearing apparel, and leather products and footwear. Compared with January 2022, the export price index rose by 14.9%.
The import price index fell by 1.9% in January compared with December. The biggest price decreases were registered in electricity production, mining and quarrying, and the manufacture of wood products. Prices rose most for agricultural products, beverages, and tobacco products. Compared with January 2022, the import price index went up by 11.2%.
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