The producer price index of industrial output, which expresses changes in the producer prices of industrial goods manufactured in Estonia for the domestic market and export, fell by 0.4% in March 2024 compared with February and by 3.9% compared with March last year.
Eveli Šokman, team lead of producer price statistics at Statistics Estonia, said that, compared with February, the producer price index was primarily affected by price decreases in electricity production and in the manufacture of metal products. “Rising prices in the manufacture of fuel oils, electrical equipment and chemicals had the opposite effect on the index,” added Šokman.
Compared with March 2023, the producer price index was affected the most by price decreases in electricity and heat energy production, in the manufacture of wood and wood products, and in the manufacture of metal products. The index was also influenced by price increases in the manufacture of electronic equipment and the repair of machinery and equipment. Producer prices decreased by 2.0% in manufacturing as a whole and by 3.6% in manufacturing food products.
The export price index rose by 0.4% in March compared with February. The most significant price increases were recorded in mining and quarrying, for petroleum products, and for agricultural products. Prices fell for electricity, non-metallic mineral products, and rubber and plastic products. Compared with March 2023, the export price index fell by 4.1%.
The import price index declined by 0.4% in March compared with February. Prices fell the most for electricity, in mining and quarrying, and for chemicals and chemical products. The most significant increase was registered in the prices of wearing apparel, agricultural products, and wood products. Compared with March 2023, the import price index decreased by 2.3%.
Source: Statistics Estonia
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