April PPI Jumps 4.2%: Stats
Stats Estonia says industrial output PPI rose 4.2% in April 2023.
The PPI went down by 0.7% from March to April 2023. It shows changes in the prices of goods made in Estonia for the local and foreign markets. This happened even though the year had seen an increase.
Statistics Estonia's top analyst Eveli Šokman reported a decrease in producer prices from March. The drop stemmed from lower costs in electricity and heat production, fuel oil, electronics, and metal fabrication manufacturing. However, there was a price increase for wood production.
The PPI had bigger price increases in food products, building materials, and electrical equipment in April 2022. It went down for fuel oils and electricity production. Overall, the producer price increased by 5.2 percent in manufacturing and 13.6 percent in food products manufacturing.
Prices dropped by 0.6% in exports from March to April. The top decreases happened in mining, electricity, and agriculture. Wearing apparel, furniture, chemicals, and electrical equipment prices increased the most. In April 2022, there was a 5.5% increase in export prices compared to last year.
The cost of importing went down by 0.4% from March to April 2023. Electricity, mining, and metals decreased the most in price. Wood, furniture, and industrial machinery went up in price the most. In April 2022, the import price index went up by 2.4%.
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