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Financial News: Estonia Producer Prices Rise Faster In October

Estonia Producer Prices Rise Faster In October

11/21/2022 - 04:12:00 (RTTNews)

(RTTNews) - Estonia's producer prices rose at a faster pace in October, figures from Statistics Estonia showed on Monday.

The producer price index rose 23.5 percent year-on-year in October, following a 23.2 percent increase in September.

On a monthly basis, producer prices gained 0.1 percent in October.

"Compared with October 2021, the index was primarily influenced by rising prices in electricity and heat energy production and in the manufacture of food products and electronic products," Eveli Sokman, leading analyst at Statistics Estonia, said.

Manufacturing prices alone grew 17.1 percent in October, and the price index for the manufacture of food products was 26.4 percent higher compared to last year.

Data also showed that import prices rose 0.1 percent monthly and 21.0 percent yearly in October.

Export prices increased 0.9 percent monthly in October and gained 21.3 percent from a year ago.

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