Estonian producer prices increased by 1.1 percent year-on-year in May 2019, slower than a 1.6 percent rise in the previous month. Cost went up softer for both electricity, gas, steam and air conditioning supply (6.9 percent vs 7.0 percent in April) and mining and quarrying (5.0 percent vs 5.2 percent). In addition, cost of manufacturing edged down (-0.1 percent vs 0.5 percent), mainly due to decreases in prices of manufacture of electronic equipment and fuel oils, and in heat energy supply. Meanwhile, cost of water supply, sewerage, waste management and remediation was unchanged (the same as in April). On a monthly basis, producer prices fell 0.4 in May, after a 0.7 percent gain 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 1.40 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.