Import prices fell by 1.4 per cent in June

According to Statistics Finland, import prices fell by 1.4 per cent from May to June, mainly due to a drop in the price of crude oil.

Import prices went down by three per cent in the year to June, due to lower prices of crude oil, electrical equipment, base metals and metal ores.

In the year to June the import prices of energy products fell by 15 per cent and those of raw materials and output commodities by 4.4 per cent. In contrast, the import prices of investment goods, durable consumer goods and other consumer goods rose by just under one per cent in the same twelve-month period.

Export prices fell by 0.1 per cent from May to June, due to lower prices of machinery and equipment and base metals.

In the year to June export prices rose by 0.6 per cent because of higher prices of paper and board, and iron and steel metals. In contrast, lower prices of electrical equipment, oil products, and colour metals curbed the rise of the export price index.

Producer prices for manufactured goods, or producer prices for goods intended for the domestic market, fell by 0.3 per cent from May to June. This was due to lower prices of oil products, chemicals and base metals.

In the year to June producer prices for manufactured goods fell by one per cent, due to lower prices of colour metals, oil products, timber, electrical equipment and chemicals.

Wholesale prices fell by 0.6 per cent from May to June, due to lower prices of crude oil, oil products, chemicals and colour metals.

In the year to June wholesale prices went down by one per cent. The wholesale prices of imported goods went down by 2.4 per cent and those of domestic goods by 0.3 per cent over the same twelve-month period.

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Monthly and annual changes in producer price indices, June 1998, %
Indices	5/98 - 6/98	6/97 - 6/98
Producer price index for manufactured goods	-0.3	-1.0
Export price index	-0.1	0.6
Import price index	-1.4	-3.0
Basic price index for domestic supply	-0.5	-1.1
Wholesale price index	-0.6	-1.0

Source: Producer Price Indices 1998, June. Statistics Finland