Estonia's Producer Price Inflation Weakens In December

Estonia’s producer price inflation weakened in December, data released by Statistics Estonia revealed Monday.

The producer price index increased 2.4 percent on an annual basis in December, after growing 3.3 percent in November.

Costs of electricity, gas, steam and air conditioning climbed 19.7 percent, making the biggest contribution to the overall growth. Prices in the manufacturing sector grew 0.4 percent annually, and mining prices advanced 15.2 percent.

On a monthly basis, output prices decreased 1 percent in December, faster than the 0.6 percent fall recorded a month earlier, the agency said.

The statistical office further noted that Estonia’s export prices decreased 1.6 percent annually in December. The index recorded a 0.2 percent fall on a monthly basis.

Import prices dropped 2.3 percent year-on-year. Compared to November, import decreased by 3.8 percent.

The material has been provided by InstaForex Company – www.instaforex.com

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