Producer prices for manufactured goods rise 0.9%

Producer prices for manufactured products rose by an average of 0.9 per cent from May 2018 to May 2019, according to the Statistics Finland.

Producer prices for manufactured products sold on the domestic market rose by 1.8 per cent, while the producer prices of export products went down by 0.2 per cent.

The increase in the producer prices for manufactured goods was particularly attributable to risen prices of electricity, and pulp, paper, paperboard and cardboard from May 2018. The rising of prices was curbed particularly by fallen prices of iron and steel.

The export price index fell by 0.1 per cent and the import price index by 0.7 per cent in the year. The Basic Price Index for Domestic Supply went up by 1.4 per cent. The Basic Price Index for Domestic Supply including Taxes went up by 1.5 per cent.

Export prices were, in particular, depressed by the falling prices of iron and steel, and oil products. The fall in export prices was slowed down particularly by the higher prices of pulp, paper, paperboard and cardboard compared with May 2018. The fall in import prices was, in turn, especially caused by lower prices of waste and basic metals.

From April to May, producer prices for manufactured products rose by 0.1 per cent. Producer prices were particularly boosted by the increase in oil prices compared with the previous month.