Producer price index of industrial output down by 0.5% from last year
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.
Eveli Šokman, team lead of producer price statistics at Statistics Estonia, said that, compared with June 2023, the producer price index was most affected by price decreases in the manufacture of wood and wood products, manufacture of food products, and in electricity and heat energy production. “Rising prices in the manufacture of fuel oils, repair of machinery and equipment, and manufacture of electronic equipment had the opposite effect on the index. Producer prices decreased by 0.2% in manufacturing as a whole and by 3.4% in the manufacture of food products,” Šokman noted.
Compared with May 2024, the index in June was primarily affected by price increases in electricity production. The index was also influenced by falling prices in the manufacture of food products and in the repair of machinery and equipment.
In June, the export price index rose by 0.6% compared with May. The greatest price increases were registered for electricity, building materials, and mining and quarrying. Prices of chemicals, agricultural products, motor vehicles, and furniture decreased the most. Compared with June 2023, the export price index increased by 0.4%.
The import price index rose by 0.8% in June compared with May. The biggest price increases were recorded for electricity, mining and quarrying, and industrial machinery and equipment. Prices of agricultural products, chemicals and chemical products, and petroleum products decreased the most. Compared with June 2023, the import price index rose by 0.9%.
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:
Heidi Kukk
MediaRelations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
press [at] stat.ee