Estonian producer prices dropped by 0.2 percent year-on-year in July 2019, reversing a 0.5 percent rise in the previous month. It is the first decline in producer prices since September 2016, mainly due to a sharp fall in electricity, gas, steam and air conditioning supply prices (-7.2 percent vs -5.4 percent in June). In addition, mining and quarrying prices went up softer (6.5 percent vs 7.5 percent), while prices of manufacturing were flat (vs 0.3 percent). Meantime, cost of water supply, sewerage, waste management and remediation increased by 0.9 percent, after a flat reading in June. On a monthly basis, producer prices edged up 0.1 in July, the same pace as in a month earlier. Producer Prices Change in Estonia averaged 5.49 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 1.10 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 2.00 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.