Estonian PPI of 14.2% y/y in June highest in EU-Eurostat.

By bne IntelliNews August 4, 2013

Estonia posted industrial producer price inflation of 14.2% y/y in June 2013, according to the report by European Statistical Agency Eurostat. This made the highest annual PPI in EU in June. Lithuania showed 0.4% y/y PPI and Latvia 1.5% y/y. In the Eurozone and EU-27 industrial producer price inflation stood at 0.7% y/y and 0.6% y/y in June, respectively.

Statistics Estonia report showed that Estonia’s PPI amounted to 6% y/y and 2.5% m/m in June 2013, increasing sharply as compared to 3.4% y/y and -1.2% m/m and posting the fastest monthly y/y producer price growth this year.

PPI in y/y terms was moderating throughout 2011 and 2012 to 2.1% in December 2012, but hiked in Q1/2013 on higher prices of electricity as a result of total deregulation of the electricity market that took effect as of 2013. This trend is confirmed also by June’s data, with prices of electricity, gas, steam and air conditioning supply increasing by 52% y/y and 28.4% m/m (34%-35% y/y in April-March).

Manufacturing PPI, at the same time, remained stable at 1.6% y/y in June after 1.6% y/y seen in March, 1.1% y/y in April, and 1.7% y/y in May.

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