Manufactured products prices fall by 4.4%

27 Jul 2020, 01:00

  DF Report

File Photo Lapland Material Bank by Terhi Tuovinen.

Producer prices for manufactured products went down by an average of 4.4 per cent from June 2019 to June 2020, according to Statistics Finland.

The producer prices for manufactured products sold on the domestic market declined by 3.1 per cent, while the producer prices of export products fell by 5.8 per cent.

The drop in the producer prices for manufactured products was particularly attributable to fallen prices of oil products, pulp, paper, paperboard and cardboard, as well as iron and steel from June 2019.

The export price index fell by 5.8 per cent and the import price index by 6.6 per cent in the year. The basic price index for domestic supply went down by 3.6 per cent. The basic price index for domestic supply including taxes fell by 3.2 per cent.

The decrease in the export price index was in particular affected by lower prices of oil products, pulp, paper, paperboard and cardboard compared to June last year. The fall in the import price index was, in turn, especially attributable to reductions in the prices of oil products.

From May to June, producer prices for manufactured goods went up by 1.8 per cent. Producer prices increased particularly due to higher prices of oil products and electricity compared to the previous month.