Estonian producer prices increased by 1.6 percent year-on-year in April 2019, faster than a 0.4 percent rise in the previous month. It was the highest producer inflation since December last year, as cost of manufacturing went up faster (0.5 percent vs 0.1 percent in March), mainly due to increases in prices of manufacture of food products, fuel oils, and wood products. In addition, cost of electricity, gas, steam and air conditioning supply rebounded sharply (7.0 percent vs -3.7 percent). Meanwhile, producer inflation was steady for mining and quarrying (at 5.2 percent) and cost of water supply, sewerage, waste management and remediation was unchanged (the same as in March). On a monthly basis, producer prices rose 0.7 in March, after a flat reading in a month earlier. Producer Prices Change in Estonia averaged 5.52 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 1.00 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 2.20 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.