In February, the producer price index (PPI) of industrial output, which expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and for export, increased by 0.8% MoM and by 26.3% YoY, Statistics Estonia said on March 21.
Eveli Sokman, leading analyst at Statistics Estonia, said that, compared with January, the index was affected the most by price increases in the manufacture of metal products, fuel oils, food products, electronic products and chemicals and chemical products, according to a press release.
“Price decreases in the manufacture of wood and wood products and in electricity production had an opposite effect on the index,” added Sokman.
Compared with February 2021, the PPI was affected primarily by price increases in electricity and heat energy production and in the manufacture of wood and wood products, fabricated metal products and food products.
Last month, the export price index rose by 1.7% compared with January. The biggest price increases occurred in the manufacture of petroleum products, chemicals and chemical products, and fabricated metal products. Prices fell the most in electricity exports. The export price index in February increased by 21.9% YoY.
February’s import price index, meanwhile, likewise increased by 1.7% MoM. The biggest increases were recorded in the prices of petroleum products, agricultural products and fabricated metal products, while prices decreased the most in electricity production, mining and quarrying, and the manufacture of wood products. The import price index in February increased by 25.1% YoY. (ERR/Business World Magazine)