In June, the producer price index of industrial output increased by 1.7% MoM, but decreased by 2.3% YoY, data from Statistics Estonia showed.
Eveli Sokman, leading analyst at Statistics Estonia, said the producer price index was on the rise again after a long time.
“In June compared to May, the producer price index was affected in particular by the price increase in electricity supply. The 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,” she said.
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.
In comparison to May, the export price index has 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. 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. (ERR/Business World Magazine)