Estonian producer prices increased by 1.6 percent year-on-year in December 2018, unchanged from the previous month, remaining the lowest producer inflation since January 2017. Prices rose faster for electricity, gas, steam and air conditioning supply (39.7 percent vs 35.1 percent in November) while cost slowed for water supply, sewerage, waste management and remediation (0.3 percent vs 0.5 percent). Meanwhile, prices fell faster for manufacturing (-1.0 percent vs -0.8 percent), as cost dropped for electronic equipment while it increased for wood and food products; and mining and quarrying (-2.6 percent vs -2.4 percent). On a monthly basis, producer prices decreased 0.6 percent, following a 0.9 percent fall in November. Producer Prices Change in Estonia averaged 5.58 percent from 1994 until 2018, 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.