Producer price index of industrial output continues to rise
In May 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 3.1% compared to April 2022 and by 33.7% compared to May 2021.
Germo Valgenberg, leading analyst at Statistics Estonia, said that, compared to May 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, food products and fabricated metal products. “In manufacturing as a whole, prices increased by 24.0%, whereas in the manufacture of food products prices rose by 21.2%”, added Valgenberg.
Compared to April, the producer price index 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.
In May, compared to April, the export price index rose by 3.3%. The biggest increases occurred in the prices of electricity, petroleum products and building materials. Compared to May 2021, the export price index increased by 27.7%.
The import price index rose by 2.5% in May, compared to the previous month. The biggest price increases were recorded in electricity production and in the manufacture of petroleum products and chemicals. Compared to May 2021, the import price index increased by 30.1%.
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.
For further information:
Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9191