Producer price index of industrial output rose in July
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 0.4% in July 2024 compared with June and by 0.8% compared with July last year.
Eveli Šokman, team lead of producer price statistics at Statistics Estonia, said that, compared with July 2023, the producer price index was most affected by price increases in the manufacture of electronic products, repair of machinery and equipment, and manufacture of fuel oils. “Falling prices in the manufacture of food products, chemical products, and electrical equipment had the opposite effect on the index. Producer prices increased by 0.9% in manufacturing as a whole and decreased by 3.4% in the manufacture of food products,” Šokman noted.
Compared with June 2024, the index was primarily affected by price increases in electricity and heat energy production and in the manufacture of building materials and industrial machinery and equipment. The index was also influenced by falling prices in the manufacture of fabricated metal products as well as wood and wood products.
In July, the export price index rose by 0.7% compared with June. The greatest price increases were registered for electricity, building materials, and electronic products. Prices fell the most for agricultural products, paper and paper products, and wearing apparel. Compared with July 2023, the export price index increased by 1.4%.
The import price index was up by 0.4% in July compared with June. The largest increases were seen in the prices of electricity, petroleum products, and fabricated metal products. Prices declined the most for agricultural products, wearing apparel, and metal. Compared with July 2023, the import price index rose by 2.2%.
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:
Kaia-Liisa Tabri
Communications Partner
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9201
press [at] stat.ee