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Estonia Producer Price Inflation Increases In February

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Estonia’s producer prices rose in February, mainly due to price increases in electricity and heat energy production, and manufacture of wood and wood products, fabricated metal products and food products.

The producer price index increased 26.3 percent year-on-year in February, data from Statistics Estonia showed on Monday.

On a month-on-month basis, producer prices rose 0.8 percent in February.

“Compared to 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,” Eveli Sokman, the leading analyst at Statistics Estonia, said.

“Price decreases in the manufacture of wood and wood products and in electricity production had an opposite effect on the index.”

Import prices increased 1.7 percent monthly in February and gained 25.1 percent from a year ago.

Export prices also rose 1.7 percent monthly in February, and increased 21.9 percent yearly.

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