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Estonia Producer Prices Rise In December

Estonia’s producer prices grew in December, data from Statistics Estonia showed on Wednesday.

The producer price index rose 0.7 percent year-on-year in December.

Prices for mining and quarrying industry grew 5.8 percent yearly in December. Prices for electricity, gas, steam and air conditioning supply, and water supply gained 8.7 percent and 0.5 percent, respectively.

Prices of manufacturing decreased 0.1 percent in December.

On a month-on-month basis, producer prices rose 0.7 percent in December.

Compared to the previous month, the producer price index was affected the most by rising prices in electricity production, manufacture of electronic equipment and manufacture of wood and products of wood, Eveli Sokman, an analyst at Statistics Estonia, said.

“Price decreases in the manufacture of food products, in mining and quarrying and in the manufacture of beverages had an opposite impact on the index,” Sokman said.

Import prices rose 0.8 percent monthly in December and decreased 5.4 percent from a year ago.

Export prices grew 1.4 percent monthly in December and declined 2.6 percent yearly.

The material has been provided by InstaForex Company – www.instaforex.com