Estonia Producer Prices Fall 2.2%

Estonia's producer prices decreased for the second straight month in July, figures from Statistics Estonia showed on Thursday.

The producer price index fell 2.2 percent year-on-year in July, following a 1.5 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 price index.

Data showed that export prices were 0.4 percent lower compared to last year, and the import price index dropped by 2.5 percent.

On a monthly basis, producer prices decreased 0.3 percent in July due to cheaper costs in electricity production and in the manufacture of electronic products and food products.

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