Estonia Producer Prices Tick-up Again in June

Estonia's Producer Price Indices increased again in June. According to Statistics Estonia, in June 2008 the producer price index was up 0.4% month on month (compared to May) and 7.5% Year on year (compared to June 2007). This is up from 0.2 and 7.2 respectively in May.



The month on month cahnge in the producer price index was mainly influenced by the increase in prices in the manufacture of electrical and optical equipment and in the manufacture of textiles and textile products. Compared to June of the previous year, prices increased most in the manufacture of food products and beverages.


In June 2008 the percentage change in the export price index was 1.1% compared to May 2008 and 5.2% compared to June of the previous year, while the percentage change in the import price index was 2.8% compared to May 2008 and 8.7% compared to June of the previous year. This move in export prices does not bode well for the export outlook, especially being pegged to such a hard currency as the euro at this point.