In August, the industrial producer price index increased by 1.1%
According to Statistics Estonia, in August, the producer price index of industrial output increased by 1.1% compared to July 2020 and decreased by 2.2% compared to August 2019.
According to Eveli Šokman, leading analyst at Statistics Estonia, in August, compared to July, the producer price index was affected primarily by price increase in electricity supply. “Price decreases in the manufacture of fish and meat products, and chemical products, had a big impact on the index,” added Šokman.
Compared to August 2019, the index was affected the most by price decreases in the manufacture of electronic equipment, electricity and heat energy supply and manufacture of fuel oils, but also by price increases in the manufacture of metal products and textiles.
| Economic activity according to EMTAK 2008 | July 2020 – August 2020, % |
August 2019 – |
|---|---|---|
| TOTAL | 1,1 | -2,2 |
| Manufacturing | -0,1 | -1,8 |
| Mining and quarrying | 1,1 | 1,0 |
| Electricity, gas, steam and air conditioning supply | 18,7 | -9,0 |
| Water supply; sewerage, waste management and remediation activities | 0,0 | -9,8 |
The export price index rose by 0.5% compared to July 2020. The prices of electricity and rubber and plastic products increased the most, while the prices of wood products, oil products and agricultural products decreased the most. Compared to August 2019, the export price index decreased by 5.8%.
The import price index increased by 0.3% compared to July 2020. The prices of electricity, leather products and footwear, and timber increased more than average, while the prices of oil products, building materials and fish products decreased. The import price index decreased by 5.6% compared to August 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, August 2020).
For further information:
Kadri Kütt
Media Relations Manager
Marketing and Dissemination Department
Statistics Estonia
Tel +372 625 9181