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Estonia Producer Prices Rise In January

Estonia's producer prices increased in January, data from Statistics Estonia showed on Friday.

The producer price index rose 2.3 percent year-on-year in January.

Prices for electricity, gas, steam and air conditioning supply grew 34.8 percent annually in January. Prices of manufacturing and water supply gained 0.4 percent and 0.2 percent, respectively.

Meanwhile, prices for mining and quarrying industry fell 0.2 percent.

On a month-on-month basis, producer prices rose 0.8 percent in January.

"In January compared to December 2020, the producer price index was affected the most by price increases in electricity and heat production and in the manufacture of wood and products of wood," Eveli Sokman, leading analyst at Statistics Estonia, said.

Import prices rose 1.7 percent monthly in January and decreased 4.4 percent from a year ago.

Export prices grew 0.7 percent monthly in January and declined 2.0 percent yearly.

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