17 August 2001
Inquiries: Mr Jari Harjunpää +358 9 1734 3472, Ms
Sonja Kuusisto +358 9 1734 3469, thi.tilastokeskus@stat.fi
Director in charge: Mr Jarmo Hyrkkö
Producer prices fell in July
According to Statistics Finland, producer price indices went down by 0.1 to 2.3 per cent from June to July. Import prices fell most, by 2.3 per cent. The fall of the import price index was mainly due to lower prices of energy minerals, oil products and base metals. From July 2000, import prices fell by 2.2 per cent. The fall was primarily caused by lower prices of base metals, crude oil, electrical products, metal ores and agricultural products. The fall of the index was curbed by higher prices of vehicles, coal and metal products.
Export prices went down by 1.0 per cent from last year's July. The fall was mainly attributable to lower prices of electrical products, base metals, pulp and oil products. The fall of the index was restrained by higher prices of paper and paperboard compared to July 2000. From June to July, export prices fell by 1.6 per cent. On the monthly level the change was mainly due to lower prices of paper and paperboard, oil products and pulp.
The producer prices for manufactured products, that is, prices for goods intended for the domestic market went up by 1.8 per cent from July last year. The rise was mostly caused by higher prices of electricity and heating. The rise was evened out by lower prices of pulp, oil products, electrical products and base metals. On the monthly level the producer prices for manufactured products fell by 0.1 per cent, which was due to lower prices of oil products and pulp. The fall was mainly curbed by higher price of electricity.
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Month-on-month and year-on-year changes of Producer Price Indices in July 2001, % (1995=100) |
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|
Indices |
Point figure |
Change, % |
Change, % |
|
Producer price index for manufactured products |
107.4 |
-0.1 |
1.8 |
|
Export price index |
100.3 |
-1.6 |
-1.0 |
|
Import price index |
108.1 |
-2.3 |
-2.2 |
|
Basic price index for domestic supply |
108.1 |
-0.9 |
0.6 |
|
Wholesale price index |
108.3 |
-0.7 |
0.7 |
Producer price indices measure the development of commodity prices from enterprises' viewpoint. The basic price index for domestic supply measures the development of prices exclusive of tax of goods used in Finland as they enter the market. The wholesale price index describes the change in the purchase prices of goods used in Finland inclusive of tax. Both these indices contain domestic and imported goods.
The HWWA Index, used to measure the dollar-based world market prices of raw materials, went down by 9.4 per cent from July 2000. Without the energy group, the overall index decreased by 9.3 per cent. Prices of non-ferrous metals fell most, by 14.1 per cent.
Source: Producer Price Indices 2001, July. Statistics Finland