Producer Price Index fell again in February

Text Mark Taylor
Photo Andrei Chertkov

The Producer Price Index, which expresses changes in the prices of industrial goods manufactured in Estonia, decreased by 0.2 per cent in February 2023 compared with January 2023. However, it increased by 11.6 per cent compared with February 2022.

“Compared with January, the Producer Price Index was most affected by falling prices in the manufacture of wood, electronics, and paper products. The index was also influenced by price increases in electricity and heat production and in the manufacture of electrical equipment,” said Eveli Šokman, a leading analyst at Statistics Estonia.

When compared with one year ago in February 2022, the index was primarily influenced by rising prices in the manufacture of food, wood products, and building materials. Lower prices in the manufacture of fuel oils had the opposite effect on the index. Prices rose by 12.1 per cent in manufacturing as a whole compared with February 2022.

In February, the Export Price Index remained at the same level as in January. The biggest increases occurred in the prices of electricity, wearing apparel, machinery and equipment. The biggest fall in prices was recorded in mining, paper and petroleum products. Compared with February 2022, the Export Price Index rose by 13.0 per cent.

The Import Price Index grew by 0.3 per cent in February compared with January. The biggest increase was registered in the prices of electricity, agricultural products, leather products and footwear. Prices fell the most in mining, paper products and wearing apparel. Compared with February 2022, the Import Price Index rose by 9.6 per cent.

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Export Price Index Import Price Index Imports Manufacturing Producer Price Index Producer Price Index Estonia