18 April, 2000
Inquiries: Mr Eero Koljonen +358 9 1734 3472, Ms
Sonja Kuusisto +358 9 1734 3469, thi.tilastokeskus@tilastokeskus.fi
Director in charge: Mr Jarmo Hyrkkö
Annual increase in import prices still in excess of 14 per cent
Import prices went up by 14.6 per cent in the year to March 2000, Statistics Finland reports. This was due primarily to rising world-market prices of crude oil. From February to March, the increase in import prices slowed down to 0.8 per cent, which was due to the price of crude oil taking a downward turn. The sharpest increases were recorded for metal, alloy and sawngoods prices.
Export prices continued to rise: from February to March prices were up by 1.2 per cent, from March 1999 by 7.0 per cent. The price hikes in March were mainly due to increasing prices of plastic products and petroleum products, such as lubricating oils and petrol.
Industrial producer prices or the factory prices for domestic goods increased by 0.9 per cent from February and by 7.4 per cent from March 1999. In March the biggest increases were recorded for pulp and paper products as well as petroleum products.
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Monthly and annual changes in producer price indices in March 2000, % (1995=100) |
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Indices |
Point figure |
Change, % |
Change, % |
|
Industrial producer price index |
103.1 |
0.9 |
7.4 |
|
Export price index |
99.3 |
1.2 |
7.0 |
|
Import price index |
107.9 |
0.8 |
14.6 |
|
Basic price index for domestic supply |
105.3 |
0.7 |
8.4 |
|
Wholesale price index |
105.5 |
0.8 |
8.2 |
Producer price indices measure changes in commodity prices from the manufacturer's point of view. The basic price index for domestic supply measures changes in the prices of goods used in Finland as they enter the market, i.e. purchase prices exclusive of tax. The wholesale price index measures changes in the purchase prices of goods used in Finland inclusive of tax. The basic price index for domestic supply and the wholesale price index include both domestic and imported goods.
The HWWA Index, measuring the dollar-based world market prices of raw materials, rose by 52.4 per cent in the year to March 2000. The increase since February 2000 was 0.8 per cent and was due primarily to rising oil prices.
Source: Producer Price Indices 2000, March. Statistics Finland.