Finland’s producer prices up 0.2% in July ’24

Finland’s producer prices for manufactured products rose by an average of 0.2 per cent in July 2024, compared to the same month last year.

This increase was driven by higher prices for pulp, machinery and equipment, and timber. However, the rise was tempered by declines in electricity, paper and paperboard, and metal products prices.

The export price index increased by 1.3 per cent year-on-year, mainly due to higher prices for pulp, basic metals, and precious metals.

Conversely, the import price index fell by 0.3 per cent, influenced by lower prices for basic metals, electricity, and waste, despite increases in crude oil, pharmaceutical preparations, and food products.

Domestically, the basic price index for supply fell by 0.5 per cent, while the index including taxes rose by 0.2 per cent from a year ago.

On a monthly basis, producer prices for manufactured products decreased by 0.4 per cent from June to July, primarily due to lower prices for electricity and chemicals, although this was partially offset by rising prices for oil products and paper.

These mixed trends highlight the varied influences on Finland’s producer prices across different sectors and markets.