In May, the producer price index of industrial output increased by 0.1% MoM, but decreased by 3.9% YoY, Statistics Estonia (Statistikaamet) reported.
Compared to April, the export price index increased by 0.4%. The prices of electricity, chemical products and beverages increased the most, while the prices of parts and accessories for motor vehicles, textile products and wearing apparel decreased. However, compared to May 2019, the export price index decreased by 8.2%.
The import price index fell by 1.1% compared to April. The prices of chemical and oil products, leather products and footwear decreased more than average, while the prices of electricity, electronic equipment and raw forest products increased. The import price index decreased by 9.2% compared to May 2019.
Eveli Sokman, leading analyst at Statistics Estonia, said the producer price index in May, compared to April, was affected more than average by price increase in the production of fuel oils and electricity supply, which was offset by price decrease in the production of plastic and wood products and electronic equipment.
Sokman said: “While in April, price decrease in the production of dairy products had a significant impact, in May, significant impact came from price increase in the same economic activity.”
Compared to May 2019, the index was affected more than average by price decrease in electricity and heat energy supply and in the manufacture of electronic equipment, fuel oils and wood products as well as price increase in mining and quarrying and in the manufacture of textile and metal products. (ERR/Business World Magazine)
