Growth in industrial producer prices in Estonia among fastest in EU in November

TALLINN – Industrial producer prices in Estonia grew by 8.6 percent year over year in November, representing the third highest increase in the European Union after Belgium and Denmark.

The highest annual increases in industrial producer prices were recorded in November in Belgium, 9.3 percent, Denmark, 9.2 percent, and Estonia, 8.6 percent, while the only decrease was observed in Ireland, -0.6 percent, according to estimates from Eurostat, the statistical office of the European Union.

Industrial producer prices rose by 4.0 percent in the euro area and by 4.3 percent in the EU28.

Year over year, in the euro area, industrial producer prices rose by 10.8 percent in the energy sector, by 2.6 percent for intermediate goods, by 1.2 percent for capital goods and durable consumer goods and by 0.2 percent for non-durable consumer goods. Prices in total industry excluding energy rose by 1.5 percent.

In the EU28, industrial producer prices rose by 12.0 percent in the energy sector, by 3.0 percent for intermediate goods, by 1.4 percent for durable consumer goods, by 1.3 percent for capital goods and by 0.4 percent for non-durable consumer goods. Prices in total industry excluding energy rose by 1.8 percent.

Month over month, Estonia saw the highest increase, 1.7 percent, followed by Denmark with 1.2 percent and Sweden with 0.8 percent.

Compared with October 2018, industrial producer prices decreased by 0.3 percent in the euro area and by 0.4 percent in the EU28. In October 2018, prices increased by 0.8 percent in both zones.