Producer price indices in January decreased

News
Posted on 20 February 2009, 10:00

According to Statistics Estonia, in January 2009 the percentage change in the producer price index was -0.5% compared to December 2008 and 3.3% compared to January.

In January compared to the previous month the producer price index was more than average influenced by the increase in prices in energy supply and in mining and by the decrease in prices in the manufacture of chemicals and chemical products. Compared to January 2008 the prices increased most in energy supply and in mining.

Change in the producer price index by economic activity, January 2009

Economic activity December 2008 -
January 2009, %
January 2008 -
January 2009, %
TOTAL -0.5 3.3
Energy supply 5.8 33.8
Mining 6.6 19.4
Manufacturing -1.2 0.5

Since 2002 the weights system and the base prices used in calculations of the producer price index of industrial output are updated every year. In 2009 the weights system of the producer price index corresponds to the industrial sales structure of enterprises in the year 2007, and the base prices for the calculation of the producer price index are the December prices of the year 2008. To ensure the comparison with previous periods, the producer price index will continue to be published on the base 1995 = 100. December 2008 is the linking month.

In January 2009 the percentage change in the export price index was -0.9% compared to December 2008 and -1.0% compared to January.

In January compared to the previous month, the export price index was more than average influenced by the decrease in prices in the manufacture of metals, in the forestry and in the manufacture of wood and wood products and in the manufacture of rubber and plastic products.

In January 2009 the percentage change in the import price index was -2.7% compared to December 2008 and -4.6% compared to January.

In January compared to the previous month, the import price index was more than average influenced by the decrease in prices of mineral fuels, wearing apparel and footwear, and wood and wood products.