Producer prices for manufactured products fell by 0.8% from July last year

According to Statistics Finland, producer prices for manufactured products fell by an average of 0.8% from July 2018 to July 2019. The producer prices for manufactured products sold on the domestic market went up by 0.4%, while the producer prices of export products fell by 2%.

Producer prices for manufactured products went down especially due to reductions in the prices of pulp, oil products and basic iron and steel from last year’s July.

The export price index fell by 2% and the import price index by 2% in the year. The Basic Price Index for Domestic Supply went up by 0.2%. The Basic Price Index for Domestic Supply including taxes rose by 0.2%.

Export prices were in particular depressed by the falling prices of pulp, basic metals and oil products from July 2018. The fall in import prices was, in turn, especially caused by lower prices of oil products, waste and basic metals.

From June to July, producer prices for manufactured products rose by 0.5%. Producer prices increased particularly due to higher prices of electricity and oil products compared to the previous month.