Producer prices for manufactured goods rise 14.8%

Producer prices for manufactured products went up by an average of 14.8 per cent from July 2020 to July 2021, according to Statistics Finland.

The producer prices for manufactured products sold on the domestic market rose by 14.9 per cent, while the producer prices of export products went up by 14.8 per cent.

The rise in the producer prices for manufactured products was particularly caused by higher prices of oil products, basic metals, and timber from last year's July.

The export price index rose by 14.9 per cent and the import price index by 15.1 per cent in the year. The basic price index for domestic supply went up by 11.2 per cent. The basic price index for domestic supply including taxes rose by 10.3 per cent.

The rise in the export price index was especially due to higher prices of basic metals, oil products as well as timber from last year’s July.

The rise in the import price index was especially caused by higher prices of crude oil, basic metals, chemicals and chemical products.

From June to July, producer prices for manufactured goods rose by 3.4 per cent. Producer prices were particularly boosted by the risen prices of timber and basic metals compared with the previous month.