The producer price index rose by 0.2% in October year on year
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 October 2024 compared with September and by 0.2% compared with October last year.
Eveli Šokman, team lead of producer price statistics at Statistics Estonia, said that producer prices in manufacturing as a whole increased for the second month in a row – by 0.7% in October and by 0.8% in September. “Compared with October 2023, the producer price index was most affected by higher prices in the manufacture of wood and wood products, in the repair of machinery and equipment, and in the manufacture of electronic equipment. Falling prices in the manufacture of fuel oils and in electricity and heat energy production had the opposite effect on the index. Producer prices in the manufacture of food products decreased by 0.5%,” explained Šokman.
Compared with September this year, the index was primarily affected by price increases in electricity production and in the manufacture of wood and fuel oils. The index was also influenced by price decreases in the manufacture of fabricated metal products, industrial machinery and equipment, and chemical products.
In October, the export price index rose by 1.1% compared with September. The biggest price increases were registered for electricity, in mining and quarrying, and for agricultural products. Prices fell the most for chemicals and chemical products, paper and paper products, and fabricated metal products. Compared with October 2023, the export price index increased by 1.2%.
The import price index was up by 0.4% in October compared with September. Prices increased the most for electricity, agricultural products, basic metals and precious metal products. The greatest decreases were registered in the prices of fabricated metal products, leather products and footwear, and rubber and plastic products. Compared with October 2023, the import price index declined by 1.1%.
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.
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For further information:
Heidi Kukk
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee