Industrial producer price index rose by almost 32% year on year
In April 2022, 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 2.8% compared to March 2022 and by 31.8% compared to April 2021.
Eveli Šokman, leading analyst at Statistics Estonia, said that, compared to April last year, the index was primarily influenced by price increases in electricity and heat energy production and in the manufacture of wood and wood products, fabricated metal products and food products. “Prices rose by 22.5% in manufacturing as a whole, and the price increase in the manufacture of food products was 18.5%,” added Šokman.
Compared to March, the producer price index was affected the most by price increases in the manufacture of wood and wood products, food products, and chemicals and chemical products. The index was also influenced by falling prices in electricity production.
In April, compared to March, the export price index rose by 2.8%. The biggest increase in prices occurred in the manufacture of paper and paper products, in the manufacture of wood products and in mining and quarrying. Compared to April 2021, the export price index increased by 25.4%.
The import price index rose by 2.5% in April, compared to the previous month. The biggest price increases were recorded in mining and quarrying and in the manufacture of petroleum products and wood products. Compared to April 2021, the import price index increased by 28.4%.
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 prices section on our website.
More detailed data have been published in the statistical database.