Estonian PPI eases for fourth consecutive month in December

Estonian PPI eases for fourth consecutive month in December
By bne IntelliNews January 22, 2018

Estonia's producer price index (PPI) grew 2.7% y/y in December, according to data released by Statistics Estonia on January 22. December was the fourth straight month in which PPI inflation slowed down its expansion.

The headline figure shed 0.6pp against the 3.3% annual expansion in November. December was the fifteenth consecutive month in which the PPI grew, although it dropped below the 3% y/y growth mark since January 2017. On a monthly basis, the index fell 0.6% in December, the first monthly deflation since May.

The annual growth in December came as prices expanded across three out of four main segments, repeating the pattern from November. In the manufacturing segment, prices grew 3.2% on the year, while also expanding in mining and quarrying by 4% y/y. In water supply, PPI growth came in at 0.5% y/y. The index fell 4.5% y/y in the utility segment.

Estonia's consumer price index (CPI) growth slowed down to 3.4% in annual terms in December, driven by commodities pricing and the low base from last year, data from Statistics Estonia showed in early January. That left overall price growth in 2017 at 3.4% as well, a major pick up compared to inflation of just 0.1% in 2016.

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