Estonian producer price indices fell in May as the economy continued to weaken, new figures show. Data released by Statistics Estonia has revealed that overall prices fell by 2.1 per cent last month when compared to May 2008.
Although prices in the energy and mining sectors increased over the period, the index for manufacturing fell by 3.8 per cent.
Export prices also decreased by 4.1 per cent over the same 12 month period, something which was influenced by a decline in the cost of forestry-related products, building materials and metals.
By comparison, import costs were down by 7.6 per cent year-on-year.
Last week, figures released by Statistics Estonia revealed that forestry workers in the country saw their average monthly wage increase by 24.2 per cent in 2008 when compared to the pervious year.
Across all sectors, monthly pay went up by 13.9 per cent, although the increase in take-home wages was only 3.2 per cent.