Estonia Producer Prices February 2008

Estonia's producer price increases remained stubbornly high again in February. According to the latest data from Statistics Estonia, in February 2008 the percentage change in the producer price index was 0.7% compared to January 2008 and 8.3% compared to February 2007. Month on month the main influenced influence on producer prices was an increase in energy supply prices and in those for the manufacture of textiles and textile products.



Obviously the rate of increase is falling back slightly, but certainly not far enough or fast enough at this point.


In February 2008 the percentage change in the export price index was 0.1% month on month and 6.4% as compared to February 2007. Month on month the biggest influences on the export price index were the increase in prices in the manufacture of plastic products and metal products and the decrease in prices in the manufacture of electrical machinery and apparatus. The import price index was down 0.6% in February compared to January 2008 and 4.6% compared to February 2007.




There is a long long way to go here to get back to restoring competitiveness in the export sector, from which Estonia will now need to live.