Industrial producer price index rose by nearly 25% year on year
In December 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 export, increased by 24.7% compared to December 2020 and by 5.3% compared to November 2021.
Eveli Šokman, leading analyst at Statistics Estonia, said that compared to December 2020, the index was affected the most by price increases in electricity and heat energy production, in the manufacture of wood and wood products and in the manufacture of metal products.
In December 2021, compared to November, the producer price index was primarily affected by price increases in electricity and heat energy production, in the manufacture of food products and electronic equipment. “Price decreases in the manufacture of wood and chemicals had an opposite effect on the index,” added Šokman.
| Economic activity according to EMTAK 2008 | November 2021 – December 2021, % |
December 2020 – December 2021, % |
|---|---|---|
|
TOTAL |
5.3 |
24.7 |
|
Manufacturing |
0.1 |
15.0 |
|
Mining and quarrying |
-2.3 |
6.7 |
|
Electricity, gas, steam and air conditioning supply |
63.2 |
197.0 |
In December 2021, compared to November, the export price index rose by 0.7%. The biggest price increases occurred in electricity production, in the manufacture of footwear, leather products and food products. Prices fell the most for oil products, chemical products and agricultural products. Compared to December 2020, the export price index increased by 20.0%.
The import price index rose by 1.7% in December 2021 compared to the previous month. Prices increased the most in electricity production, mining and quarrying, and agricultural production. Prices decreased the most in the manufacture of oil products, wood products and chemical products. Compared to December 2020, the import price index increased by 26.0%.
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.
For further information:
Kadri Kütt
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181