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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 0.7% in June 2024 compared with May and decreased by 0.5% compared with June last year.

Robert Müürsepp, the national accounts team lead at Statistics Estonia, said that the GDP, which had shown growth in the fourth quarter last year, was again down a little in the first quarter this year. “A month ago, we published a model-based flash estimate which suggested that the economy might be slightly improving. However, the flash estimate underestimated some irregular factors in the fourth quarter. Vehicle sales were exceptionally high in the fourth quarter in anticipation of the introduction of the motor vehicle tax from 2025. But the model could not fully foresee the significant

Ülo Paulus, leading analyst at Statistics Estonia, said that in the first quarter of this year, compared with the same period in 2024, the construction price index was primarily influenced by the 2.9% increase in employees’ wages, which accounted for 54% of the index change. “Compared with the fourth quarter of last year, labour force was 0.6% more expensive and the cost of using building machines rose by 0.3%, while the prices of building materials were down by 0.2%,” explained Paulus. The repair and reconstruction work price index decreased by 0.5% compared with the fourth quarter of 2024

According to Statistics Estonia, in July, the consumer price index increased by 0.3% compared with June and by 3.4% compared with July 2023. Goods were 1.7% and services 6.3% more expensive than in July last year.

According to Statistics Estonia, in 2023, the dwelling price index increased by 5.9% compared with the average of 2022. The last time that the annual growth of the dwelling price index, which is calculated as the average of four quarters, was this low was in 2018.

Lauri Veski, team lead of consumer price statistics at Statistics Estonia, said that the biggest impact on the consumer price index in 2024 came from price increases related to food and non-alcoholic beverages, which accounted for 23.7% of the total index rise. The prices of food and non-alcoholic beverages rose by 3.2% last year. “Among food products, the biggest rise occurred in the prices of olive oil (44%) and juices and syrups (36.7%). The prices of chocolate also went up significantly (14.5%). On the other hand, there was a considerable decrease in the prices of sugar (18%) and fresh

Robert Müürsepp, the national accounts team lead at Statistics Estonia, said that the fourth quarter marked the end of 10 quarters of recession. “The last time the GDP grew was in the first quarter of 2022,” Müürsepp noted. In contrast to previous quarters, the majority of activities had a positive impact on the economy. “The energy sector led the way, with value added increasing by 21%. This was followed by real estate activities and information and communication – both saw their value added rise by 5.7%. Notably, manufacturing also recovered from the crisis, growing by 0.5%. The value added

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 1.0% in May 2024 compared with April and decreased by 1.6% compared with May last year.

According to Statistics Estonia, in June, the consumer price index increased by 0.4% compared with May and by 2.5% compared with June 2023. Goods were 1.7% and services 3.8% more expensive than in June last year.

According to Statistics Estonia, in the third quarter of 2023, the dwelling price index decreased by 0.3% compared with the second quarter and increased by 3.8% compared with the third quarter of 2022.