In February, the producer price index of industrial output increased by 1% MoMy and by 4.1% YoY. Electricity had the biggest impact.
Eveli Sokman, leading analyst at Statistics Estonia, said compared to January, the producer price index was affected the most by increased prices in electricity production and in the manufacture of wood and wood products, fuel oils and fabricated metal products.
“Price decreases in the manufacture of electronic products and electrical equipment had an opposite impact on the index,” Sokman said.
Compared to February 2020, the index was also affected by price decreases in the manufacture of food products, electrical equipment and chemicals.
In February, compared to January, the export price index rose by 1.8%. The biggest price increases occurred in the manufacture of oil products, electricity production and mining and quarrying. Prices decreased in the manufacture of beverages, machinery and equipment and motor vehicles. Compared to February 2020, the export price index increased by 0.1%.
The import price index grew by 2% in February compared to January. Prices increased the most in electricity production, manufacture of oil products and mining and quarrying. There was a fall in prices in the manufacture of furniture and the manufacture of beverages. Compared to February 2020, the import price index fell by 1.9%. (ERR/Business World Magazine)