The increase in the prices of industrial output was driven by the rising price of electricity
In March 2022, 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 3.0% compared to February 2022 and by 30.3% compared to March 2021.
Eveli Šokman, leading analyst at Statistics Estonia, said that, compared to March last year, the index was primarily influenced by price increases in electricity and heat energy production and in the manufacture of wood and wood products, fabricated metal products and food products. “In manufacturing as a whole, prices increased by 20.3%, whereas in the manufacture of food products prices rose by 16.3%,” added Šokman.
Compared to February, the producer price index was primarily affected by price increases in the manufacture of fuel oils, in the manufacture of wood and wood products, in electricity production and in the manufacture of food products.
In March, compared to February, the export price index rose by 2.8%. The biggest increases occurred in the prices of electricity, petroleum products and agricultural products. Compared to March 2021, the export price index increased by 23.5%.
The import price index rose by 3.3% in March, compared to the previous month. The biggest price increases were recorded in electricity production and in the manufacture of petroleum products and basic metals. Compared to March 2021, the import price index increased by 27.2%.
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:
Kadri Kütt
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181