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Financial News: Estonia Producer Price Inflation Slows In August

Estonia Producer Price Inflation Slows In August

09/20/2022 - 05:42:00 (RTTNews)

(RTTNews) - Estonia's producer prices increased at a softer pace in August, figures from Statistics Estonia showed on Tuesday.

The producer price index rose 28.3 percent year-on-year in August, after a 28.8 percent growth in July.

"Compared with August last year, the index was primarily affected by price increases in electricity and heat energy production and in the manufacture of food products, wood products, and fabricated metal products," Eveli Sokman, a leading analyst at Statistics Estonia, said.

Manufacturing prices alone grew 18.6 percent in August, and the price index for the manufacture of food products was 24.8 percent higher compared to last year.

On a monthly basis, producer prices rose 1.3 percent in August.

Data also showed that import prices gained 1.5 percent monthly and 29.4 percent yearly in August.

Export prices rose 0.5 percent monthly in August and increased 26.1 percent from a year ago.

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