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Financial News: Estonia Producer Prices Decline In April

Estonia Producer Prices Decline In April

05/20/2020 - 04:20:00 (RTTNews)

(RTTNews) - Estonia's producer prices decreased in April, data from Statistics Estonia showed on Wednesday.

The producer price index declined 4.4 percent year-on-year in April, following a 3.5 percent fall in March.

Prices of electricity, gas, steam and air conditioning supply plunged 27.7 percent annually in April. Prices for water supply and manufacturing fell 9.0 percent and 2.8 percent, respectively.

Meanwhile, prices for mining and quarrying industry gained 2.4 percent.

"The producer price index was affected more than average by price decrease in the production of dairy products," Eveli Sokman, analyst at Statistics Estonia said.

"The index was also affected by price decrease in mining and quarrying, electricity and heat energy supply and in the production of chemicals and fuel oils," Sokman said.

On a month-on-month basis, producer prices declined 0.3 percent in April, following a 0.9 percent fall in the preceding month.

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