Estonia Producer Prices May 2008

According to Statistics Estonia, the Estonian producer price index was up 0.2% in May in comparison with April and 7.2% when compared with May 2007. Changes in the producer price index in May were mainly influenced by an increase in the prices of building materials and in the manufacture of rubber and plastic products. Compared to May 2007 the prices increased mainly in the manufacture of food and beverages.




In May 2008 the export price index was effectively stationary when compared to April 2008 and rose by 4.3% compared to May 2007.Month on month the export price index was mainly influenced by an increase in the prices of chemical products, rubber and plastic products and metal products and by a decrease in the prices of peat and peat products, food, textile products and wood and wood products.

In May 2008 the percentage change in the import price index was 1.5% compared to April 2008 and 6.2% compared to May 2007. Month on month the import price index was mainly influenced by increases in the price of mineral fuels, chemicals and chemical products and metal products and by a decrease in the price of agricultural products and of wood and wood products.



Interestingly, at least in the tradeables sector, Estonia is no longer exporting inflation, but rather importing it, since the rate of price increase in exported goods is now below the rate for imported ones.