Producer prices of manufactures fell by 5% compared to last year
The decline was similar for Finnish manufactured goods sold on the domestic market and for exports.
Producer prices for manufactured products in Finland went down by an average of 5% from July 2019 to July 2020.
According to Statistics Finland's latest figures, the producer prices for manufactured goods sold on the domestic market declined by 5%, while the producer prices of export products fell by 4.9%.
"The drop in the producer prices for manufactured products was particularly attributable to fallen prices of oil products, electricity, pulp, paper, paperboard and cardboard, as well as iron and steel from July 2019," the statistical office said.
Export prices
The export price index fell by 5% and the import price index by 6.8% in the year. The basic price index for domestic supply went down by 4.4%. The basic price index for domestic supply including taxes fell by 4.3%.
The decrease in the export price index was in particular affected by lower prices of - again - oil products, pulp, paper, paperboard and cardboard, as well as iron and steel compared to July last year. The fall in the import price index was, in turn, especially attributable to reductions in the prices of oil products and electricity.
Monthly change
From June to July, producer prices for manufactured goods fell by 0.1%. Producer prices were particularly depressed by the drop in the prices of electricity compared to the previous month.
The fall of prices was, in turn, curbed particularly by risen prices of oil products.