September 27, 2023

According to Statistics Finland, producer prices for manufactured products fell by an average of 8.4 per cent from August 2022 to August 2023. The producer prices of manufactured products sold on the domestic market fell by 7.0 per cent, while the producer prices of export products went down by 10.0 per cent.

  • Producer prices for manufactured products fell by an average of 8.4 per cent from August 2022 to August 2023.
  • The decrease in the producer prices for manufactured products was particularly caused by the decrease in the prices of electricity, basic metals, and chemicals and chemical products compared to last year’s August. The fall in prices was curbed especially by the increase in prices of and machinery and equipment from a year ago.
  • The export price index fell by 9.9 per cent and the import price index by 13.5 per cent in a year.
  • The basic price index for domestic supply went down by 7.0 per cent and the basic price index for domestic supply including taxes fell by 7.9 per cent.

 

Product groups affecting the changes in indices

The decrease in the producer prices for manufactured products was particularly caused by the decrease in the prices of electricity, basic metals, and chemicals and chemical products compared to last year’s August. The fall in prices was curbed especially by the increase in prices of and machinery and equipment from a year ago.

The export price index went down by 9.9 per cent and the import price index by 13.5 per cent in a year. The basic price index for domestic supply went down by 7.0 per cent. The basic price index for domestic supply including taxes fell by 7.9 per cent.

The decrease in the export price index was especially due to lower prices of chemicals and chemical products, basic metals, and paper and paper products compared to last year’s August. The fall in export prices was curbed especially by the increase in prices of machinery and equipment. The decrease in the import price index was, in turn, especially caused by lower prices of electricity, natural gas and crude oil. The fall in prices was curbed especially by the increase in prices of food products, and machinery and equipment.

From July to August, producer prices for manufactured products went up by 1.8 per cent. Producer prices were particularly boosted by the higher prices of oil products and electricity compared with the previous month. The rise in prices was curbed especially by the fallen prices of paper and paper products compared with the previous month.

Source: Statistics Finland
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