The producer price index of industrial output in August increased by 1.7% MoM and by 15.5% YoY, the state agency Statistics Estonia reported.
Statistics Estonia leading analyst Eveli Sokman said that the index was affected by price increases in the manufacture of wood and wood products, in electricity production and in the manufacture of metal products.
“Also the prices of electronic products had an impact on the producer price index change: they fell compared to July, but rose compared to August last year,” Sokman explained.
In addition, price decreases in the manufacture of textiles and fuel oils had an effect on the index. Compared to August last year, the index was affected by price decreases in textile manufacturing and in mining and quarrying.
In August, compared to July, the export price index rose by 1.1%. The biggest price increases occurred in the manufacture of agricultural products, wood products and in mining and quarrying. Prices fell the most in the manufacture of oil products, textile products and footwear. The export price index has been rising for eleven consecutive months. Compared to August 2020, the export price index increased by 15.6%.
The import price index rose by 1.2% in August compared to July. Prices increased most in mining and quarrying, in the manufacture of wood products and in electricity production. The biggest price decreases occurred in the manufacture of oil products, furniture products and textile products. The import price index has been on the rise for nine months in a row. Compared to August 2020, the import price index increased by 15.2%. (ERR/Business World Magazine)
