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Financial News: Estonia Producer Price Inflation Rises In March

Estonia Producer Price Inflation Rises In March

04/20/2022 - 08:47:00 (RTTNews)

(RTTNews) - Estonia's producer price inflation increased in March mainly due to rising prices in electricity and heat energy production, data from Statistics Estonia showed on Wednesday.

The producer price index increased 30.3 percent year-on-year in March. The latest rise was also driven by higher prices in the manufacture of wood and wood products, fabricated metal products and food products.

On a month-on-month basis, producer prices rose 3.0 percent in March.

"Compared to February, the producer price index was primarily affected by price increases in the manufacture of fuel oils, in the manufacture of wood and wood products, in electricity production and in the manufacture of food products," Eveli Sokman, leading analyst at Statistics Estonia, said.

Import prices increased 3.3 percent monthly in March and gained 27.2 percent from a year ago.

Export prices also rose 2.8 percent monthly in March, and increased 23.5 percent yearly.

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