Estonia’s PPI down to 3.4% y/y in May.

By bne IntelliNews June 20, 2013

Estonia’s annual PPI inflation amounted to 3.4% y/y in May 2013, down from 4.6% in April, 4.3% y/y in January and 4.4% in February, data published by Statistics Estonia shows. PPI in y/y terms has been moderating in the past two years to 2.1% in December 2012, but rose in Jan-Feb 2013 on higher prices of electricity as a result of the deregulation of the electricity market that took effect as of 2013.

This trend is confirmed also by May’s data, with y/y increase in prices of electricity, gas, steam and air conditioning supply increasing by 19% y/y (34%-35% y/y in April-March). Manufacturing PPI, at the same time, remained stable at 1.7% y/y in May after 1.6% y/y seen in March and 1.1% y/y in April.

Commenting on Q1 CPI data, the Bank of Estonia recently said that prices of goods were stable if not accounting for electricity prices. CPI inflation amounted to 3.5% y/y and 0.7% m/m in March 2013 (3.7% y/y and 0.6% m/m in February). The electricity price, which rose by 30% y/y, has a major impact on the consumer price increase during the month.

Related Articles

Former Latvian PNB Bank depositors face August deadline

Former depositors of now insolvent Latvia’s AS PNB Banka who have yet to resolve any legal claims have been reminded of a looming deadline by the regulator, the Latvian central bank, Latvijas Banka ... more

Baltic banks must be clearer on their sustainability goals – only five out of 24 Baltic banks commit to net-zero

Only five out of 24 Baltic banks commit to net-zero, and the rest need to step up, argue Vaida Arlauskaitė and Monika Aleksiejute-Jonusauskiene of the consultancy Viridis Sustainability, LRT.lt, the ... more

SEB Estonia finishes 2023 by doubling profits to €232mn

SEB Pank, Estonia's second largest commercial bank, finished 2023 with a profit of €231.7mn, similarly to Swedbank which more than doubled its profits against last year from €115.9mn, ERR.ee, the ... more

Dismiss