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Financial News: Estonia Producer Prices Fall Further In July

Estonia Producer Prices Fall Further In July

08/21/2020 - 03:02:00 (RTTNews)

(RTTNews) - Estonia's producer prices declined at a faster pace in July, data from Statistics Estonia showed on Friday.

The producer price index declined 3.4 percent year-on-year in July, following a 2.3 percent fall in June.

Prices of manufacturing fell 2.0 percent annually in July. Prices for electricity, gas, steam and air conditioning supply, and water supply declined 23.2 percent and 9.8 percent, respectively.

Meanwhile, prices for mining and quarrying industry grew 0.8 percent.

"In July compared to June 2020, the producer price index was affected more than average by price decrease in electricity supply, manufacture of wood and food products and price increase in the production of electrical equipment, peat products and gravel," Eveli Sokman, leading analyst at Statistics Estonia, said.

On a month-on-month basis, producer prices rose 1.0 percent in July, after a 1.7 percent increase in the preceding month.

Import prices rose 0.6 percent monthly in July and declined 6.1 percent from a year ago.

Export prices decreased 0.2 percent monthly in July and fell 6.7 percent annually.

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