In June, producer price index increased by 1.7%
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According to Eveli Šokman, leading analyst at Statistics Estonia, the producer price index is on the rise again after a long time. “In June compared to May 2020, the producer price index was affected in particular by price increase in electricity supply. Price increase in the manufacture of wood and wood products and price decrease in mining and quarrying and in the production of electrical equipment also had an impact,” added Šokman.
Compared to June 2019, the index was affected more than average by price decrease in the production of electronic equipment and fuel oils, in electricity and heat energy supply and in the production of chemicals and chemical products as well as by price increase in the manufacture of metal products and food products.
| Economic activity according to EMTAK 2008 | May 2020 – June 2020, % | June 2019 – June 2020, % |
|---|---|---|
| TOTAL | 1.7 | -2.3 |
| Manufacturing | 0.5 | -2.1 |
| Mining and quarrying | -1.8 | 2.3 |
| Electricity, gas, steam and air conditioning supply | 24.3 | -7.3 |
| Water supply; sewerage, waste management and remediation activities | 0.0 | -9.0 |
Compared to May 2020, the export price index increased by 1.4%. The prices of electricity, oil products and chemical products increased the most, while the prices of pharmaceutical, metal, peat, rubber and plastic products decreased. Compared to June 2019, the export price index decreased by 6.2%.
The import price index increased by 2.3% compared to May 2020. The prices of electricity, oil products and chemical products increased more than average, while the prices of wearing apparel and paper and paper products decreased. The import price index decreased by 6.8% compared to June 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.