Prices of industrial goods up for the third month
In January 2021, 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 exports, increased by 0.8% compared to December 2020 and by 2.3% compared to January 2020.
According to Eveli Šokman, leading analyst at Statistics Estonia, in January compared to December 2020, the producer price index was affected the most by price increases in electricity and heat production and in the manufacture of wood and products of wood. “Price decreases in mining and quarrying and in the manufacture of metal products and electrical equipment had an opposite impact on the index,” added Šokman.
Compared to January 2020, the index was affected the most by price increases in electricity production, manufacture of electronic equipment, and manufacture of wood and products of wood. Price decreases in the manufacture of fuel oils, chemicals and food products also had an impact on the index.
| Economic activity according to EMTAK 2008 | December 2020 – January 2021, % |
January 2020 – |
|---|---|---|
|
TOTAL |
0.8 |
2.3 |
|
Manufacturing |
0.4 |
0.4 |
|
Mining and quarrying |
-1.8 |
-0.2 |
|
Electricity, gas, steam and air conditioning supply |
9.5 |
34.8 |
|
Water supply; sewerage |
0.0 |
0.2 |
In January, compared to December 2020, the export price index increased by 0.7%. Price increases affected the most the manufacture of oil products, electricity production and manufacture of agricultural products. The biggest price decreases were recorded for chemicals and building materials. Compared to January 2020, the export price index fell by 2%.
The import price index increased by 1.7% in January compared to December. Prices increased the most in mining and quarrying, electricity production and manufacture of oil products. Prices fell the most for leather products and footwear, clothing and paper products. Compared to January 2020, the import price index fell by 4.4%.
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 dedicated section on prices.
More detailed data have been published in the statistical database.
For further information:
Kadri Kütt
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181
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