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Financial News: Estonia Producer Prices Fall In October

Estonia Producer Prices Fall In October

11/20/2020 - 03:31:00 (RTTNews)

(RTTNews) - Estonia's producer prices declined further in October, data from Statistics Estonia showed on Tuesday.

The producer price index declined 1.9 percent year-on-year in October.

Prices of manufacturing fell 1.4 percent annually in October. Prices for electricity, gas, steam and air conditioning supply, and water supply declined 11.9 percent and 9.8 percent, respectively.

Meanwhile, prices for mining and quarrying industry grew 4.0 percent.

On a month-on-month basis, producer prices remained unchanged in October.

"Compared to September, the producer price index was affected more than average by price decreases in electricity supply and in the manufacture of dairy products and textile products," Eveli Sokman, leading analyst at Statistics Estonia, said.

"The price increases in the manufacture of electronic equipment and wood manufacturing had a reverse impact, which is why the total index did not change compared to the previous month," added Sokman.

Import prices decreased 0.5 percent monthly in October and fell 5.9 percent annually.

Export prices increased 0.3 percent monthly in October and fell 5.3 percent yearly.

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