Decrease in producer price index affected the most by fall in electricity prices
According to Statistics Estonia, in July, the producer price index of industrial output decreased by 1.0% compared to June 2020 and by 3.4% compared to July 2019.
According to Statistics Estonia, in July, the producer price index of industrial output decreased by 1.0% compared to June 2020 and by 3.4% compared to July 2019.
According to Eveli Šokman, leading analyst at Statistics Estonia, in July, the producer price index decreased after having increased in June. “In July compared to June 2020, the producer price index was affected more than average by price decrease in electricity supply, manufacture of wood and food products and price increase in the production of electrical equipment, peat products and gravel,” said Šokman.
Compared to July 2019, the index was affected more than average by price decrease in electricity and heat energy supply, in the production of electronic equipment and fuel oils as well as by price increase in the manufacture of metal and peat products and gravel.
Change in producer price index of industrial output by economic activity, July 2020
|
Economic activity according to EMTAK 2008 |
June 2020 – |
July 2019 – |
|
TOTAL |
-1.0 |
-3.4 |
|
Manufacturing |
-0.2 |
-2.0 |
|
Mining and quarrying |
0.0 |
0.8 |
|
Electricity, gas, steam and air conditioning supply |
-11.7 |
-23.2 |
|
Water supply; sewerage, waste management and remediation activities |
0.0 |
-9.8 |
Compared to June 2020, the export price index decreased by 0.2%. The prices of electricity, forestry products, paper and paper products and textile products decreased the most, while the prices of oil and peat products and agricultural products increased. Compared to July 2019, the export price index decreased by 6.7%.
The import price index increased by 0.6% compared to June 2020. The prices of oil and chemical products and electrical equipment increased more than average, while the prices of electricity, leather products and footwear and metal products decreased. The import price index decreased by 6.1% compared to July 2019.
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.
More detailed data have been published in the statistical database
(Producer price index of industrial output, export and import price index, July 2020).
For further information:
Kadri Kütt
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181