Estonia Producer Price Inflation Eases To 2.8%

(RTTNews) - Estonia's producer price inflation eased sharply in March amid falling prices in the manufacture of fuel oils, paper and paper products, and furniture, figures from Statistics Estonia showed on Monday.

The producer price index rose 2.8 percent year-on-year in March, much slower than the 6.1 percent surge in the previous month.

The overall increase in March was mainly driven by price increases in the manufacture of wood and wood products, in electricity production, and in the manufacture of food products.

On the other hand, lower prices in the manufacture of fuel oils, paper and paper products, and furniture had the opposite effect on the index.

On a monthly basis, producer prices decreased 3.5 percent in March.

Data also showed that import prices declined by 2.9 percent monthly while they grew by 3.7 percent annually in March. Export prices dropped 2.4 percent over the month, and they advanced 5.1 percent from a year ago.