The Producer Price Index, which expresses changes in the prices of industrial goods manufactured in Estonia, increased by 4.2 per cent in April compared with the same month in 2022. However, it decreased by 0.7 per cent compared with March 2023, the fourth month in a row that the index has decreased.
“Compared with March, the Producer Price Index was primarily affected by falling prices in electricity and heat energy production and in the manufacture of fuel oils, fabricated metal products, and electronic products. The index was also influenced by price increases in the manufacture of wood,” said Eveli Šokman, a leading analyst at Statistics Estonia.
Compared with April 2022, the index was most affected by rising prices in the manufacture of food products, building materials, and electrical equipment. Lower prices in the manufacture of fuel oils and in electricity production had the opposite effect on the index. The increase in producer prices was 5.2 per cent in manufacturing as a whole and 13.6 per cent in the manufacture of food products.