Estonian PPI deepens fall to -4.4% y/y in April

Estonian PPI deepens fall to -4.4% y/y in April
By bne IntelIiNews May 20, 2020

Estonia's producer price index (PPI) retreated 4.4% y/y in April, data released by Statistics Estonia showed on May 20.

The reading showed a further deepening of PPI deflation after the index fell 3.5% y/y in March. The headline figure also sees the PPI inflation rate below zero for the ninth consecutive month after an uninterrupted growth period, which had lasted for nearly three years prior. 

On a monthly basis, the index declined 0.3% in April, compared to a fall of 0.9% m/m the preceding month.

The annual PPI fall in April came on the back of prices nose-diving 27.7% y/y in electricity, gas, steam, and air conditioning supply; that followed a decline of 24.7% y/y in March.

In the manufacturing segment, the index fell 2.8% in April after retreating 2.1% y/y the preceding month.

The PPI also fell 9% y/y in the water supply segment in April, repeating the decline rate seen in the third month.

Prices increased 2.4% y/y in the mining and quarrying sector only in April, compared to growth of 4.9% y/y the preceding month.

In m/m terms, the PPI declined 0.1% in the manufacturing sector. Factory gate prices also declined in the utility sector, at 1.5% m/m. In mining and quarrying, the PPI slid 3.2% m/m while in the water supply sector, the index did not change in monthly terms.