18 August, 1998
Inquiries: Mr Ilkka Lehtinen +358 9 1734 3478
Statistical Director in charge: Mr Jarmo Hyrkkö
Producer prices falling in July
According to Statistics Finland, all producer price indices fell both from June to July and in the year to July.
Import prices fell most, by 4.4 per cent, in the year to July. Wholesale prices went down by 1.6 percent, producer prices for manufactured goods by 1.3 per cent and export prices by 0.2 per cent in the same period.
The fall in producer prices was primarily due to lower prices of oil products, chemicals, timber, electrical equipment and metals other than iron metals. In contrast, the prices of pulp, paper products, iron and steel products, and consumer goods went up in the year.
Export pricesfell by 0.3 per cent from June to July because of lower prices of paper products, chemicals and metals other than iron metals. The price of pulp, in turn, went up markedly.
Import prices went down by 0.2 per cent from June to July, due to lower prices of electronic circuits and components, oil products and certain chemicals. In contrast, the price of crude oil went up in July.
Producer prices for manufactured goods, or producer prices for goods intended for the domestic market, fell by 0.1 per cent from June to July. This was due to lower prices of chemicals and roast coffee. The index was raised by higher price of pulp.
Wholesale pricesremained almost unchanged from
June to July. Lower prices of electronic circuits and components,
chemicals and electricity decreased the index. The index was raised
by higher prices of crude oil, pulp and steel products.
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| Monthly and annual changes in producer price indices, July 1998, % | ||
| Indices | 6/98 - 7/98 | 7/97 - 7/98 |
| Producer price index for manufactured goods | -0.1 | -1.3 |
| Export price index | -0.3 | -0.2 |
| Import price index | -0.2 | -4.4 |
| Basic price index for domestic supply | -0.1 | -1.7 |
| Wholesale price index | -0.0 | -1.6 |
Source: Producer Price Indices 1998, July. Statistics Finland