Estonia Producer Prices Decline Slows In June

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Estonia’s producer prices declined at a softer pace in June, data from Statistics Estonia showed on Monday.

The producer price index declined 2.3 percent year-on-year in June, following a 3.9 percent fall in May.

Prices of manufacturing fell 2.1 percent annually in June. Prices for electricity, gas, steam and air conditioning supply, and water supply declined 7.3 percent and 9.0 percent, respectively.

Meanwhile, prices for mining and quarrying industry grew 2.3 percent.

“The index was affected more than average by price decrease in the production of electronic equipment and fuel oils, in electricity and heat energy supply and in the production of chemicals and chemical products as well as by price increase in the manufacture of metal products and food products,” Eveli Sokman, leading analyst at Statistics Estonia, said.

On a month-on-month basis, producer prices rose 1.7 percent in June, following a 0.1 percent increase in the preceding month.

Import prices rose 2.3 percent monthly in June and declined 6.8 percent from a year ago.

Export prices increased 1.4 percent monthly in June and fell 6.2 percent annually.

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