Estonian Producer Prices Fall 1.6%

(RTTNews) - Estonia's producer prices decreased for the third straight month in August, figures from Statistics Estonia showed on Monday.

The producer price index fell 1.6 percent year-on-year in August, following a 2.2 percent decrease in the previous month.

The producer price index was most affected by price decreases in electricity production and in the manufacture of fuel oils, the agency said.

On the other hand, higher prices in the manufacture of wood and wood products and in the manufacture of food products had the opposite effect on the index.

Data showed that export prices were 0.4 percent lower compared to last year, and the import price index dropped by 1.1 percent.

On a monthly basis, producer prices increased 1.6 percent in August due to price increases in electricity production.