Estonian producer prices increased by 0.6 percent year-on-year in February 2019, faster than a 0.3 percent rise in the previous month. Prices of mining and quarrying went up faster (4.6 percent vs 3.4 percent in January). On the other hand, cost of electricity, gas, steam and air conditioning supply rose at a slower rate (8.1 percent vs 31.5 percent), while those of water supply, sewerage, waste management and remediation showed no growth (the same as in January). In addition, cost of manufacturing fell less than in a month earlier (-0.4 percent vs -2.2 percent), mainly due to declines in prices of electronic equipment. On a monthly basis, producer prices dropped 0.5 percent in February, following a 0.6 percent rise in a month earlier. Producer Prices Change in Estonia averaged 5.56 percent from 1994 until 2019, reaching an all time high of 40.44 percent in October of 1994 and a record low of -3.10 percent in July of 2015.
Producer Prices Change in Estonia is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Estonia to stand at 1.70 in 12 months time. In the long-term, the Estonia Producer Prices Change is projected to trend around 2.00 percent in 2020, according to our econometric models.