Estonian PPI inflation eases in September

Estonian PPI inflation eases in September
By bne IntelliNews October 22, 2018

Estonia's producer price index (PPI) grew 2.9% y/y in September, according to data released by Statistics Estonia on October 22.

The headline figure comes 0.5pp below the 3.4% annual expansion in August, extending the current trend of PPI inflation to 24 months, with September ending a mini-series of three months of accelerating PPI inflation. On a monthly basis, the index declined 0.5% in September after growing 0.7% in August.

The annual PPI growth in September came as prices expanded across three out of four main sectors, repeating the pattern seen since May. In the manufacturing sector, prices grew 1.4% on the year, while jumping 23.6% y/y in utilities. In water supply, PPI inched up 0.5% y/y. Only in mining and quarrying did prices fall in August, by 1.6% y/y.

In m/m terms, PPI did not change in the manufacturing and water supply sectors. Factory gate prices grew 0.7% m/m in mining and quarrying, while falling 5.5% on the month in the utility sector.

Estonia's consumer price index (CPI) grew 3.7% y/y in annual terms in September, driven by growing prices of housing and food and non-alcoholic beverages, as well as in the transport sector, the latter including a jump in the price of fuels.

The overall price growth was 3.4% in 2017, a major pick up compared to inflation of just 0.1% in 2016. Headline inflation is forecast to come in at around 3% in 2018.

Data

Dismiss