Producer price index of industrial output continued to fall
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, fell by 0.8% in December 2023 compared with November and by 4.4% compared with December 2022.
Eveli Šokman, leading analyst at Statistics Estonia, said that, compared with December 2022, the producer price index was most affected by price decreases in electricity and heat energy production as well as in the manufacture of wood and wood products, paper products, and food products. “Rising prices in the manufacture of electronic products and electrical equipment had the opposite effect on the index,“ added Šokman.
Compared with November 2023, the index was primarily affected by price decreases in electricity production and in the manufacture of fuel oils and wood products. The index was also influenced by price increases in the manufacture of electronic products.
In December, the export price index fell by 0.4% compared with November. The biggest price decreases were recorded for electricity, petroleum products, and motor vehicles and trailers. Prices increased the most in mining and quarrying and for electronic products and rubber and plastic products. Compared with December 2022, the export price index fell by 3.7%.
The import price index declined by 1.0% in December compared with November. Prices fell the most in electricity production, in mining and quarrying, and for petroleum products. The biggest increase was registered in the prices of footwear and leather products, paper and paper products, and textiles. Compared with December 2022, the import price index declined by 3.3%.
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:
Helen Maria Raadik
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee (press[at]stat[dot]ee)