18 August, 2000
Inquiries: Mr Jari Harjunpää +358 9 1734 3472, Ms
Sonja Kuusisto +358 9 1734 3469,
thi.tilastokeskus@stat.fi
Director in charge: Mr Jarmo Hyrkkö
Producer prices for manufactured goods continued to rise in July
According to Statistics Finland, producer prices for manufactured goods, or producer prices for goods intended for the domestic market, went up by 0.5 per cent from June to July. This was chiefly due to higher prices of base metals, pulp and paper products. Producer prices rose by 7.5 per cent from July 1999, which was mainly attributable to higher prices of raw materials, producer goods and energy products. Price trends of investment goods, consumers durables and other consumer goods were more moderate.
Wholesale prices rose by 0.5 per cent from June to July. Prices of domestic goods increased by 0.6 per cent and those of imported goods by 0.3 per cent. Wholesale prices have gone up by 8.0 per cent from last year's July. This rise was mainly caused by higher prices of oil products, crude oil, pulp, paper products and base metals.
Import prices went up by 1.0 per cent from June to July, which was primarily due to higher prices of oil products. Import prices rose by 12.9 per cent in the year. Prices of oil products, energy minerals and metals increased most.
Export prices rose by 0.7 per cent from June to July. The rise was mainly attributable to increases in the prices of pulp, paper, paper products, base metals and non-metallic mineral products. From July 1999, import prices went up by 8.2 per cent.
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Month-on-month and year-on-year changes of Producer Price Indices in July 2000, % (1995=100) |
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|
Indices |
Point figure 7/2000 |
Change, % 6/2000 - 7/2000 |
Change, % 7/1999 - 7/2000 |
|
Producer price index for manufactured goods |
105.5 |
0.5 |
7.5 |
|
Export price index |
101.4 |
0.7 |
8.2 |
|
Import price index |
110.6 |
1.0 |
12.9 |
|
Basic price index for domestic supply |
107.4 |
0.6 |
8.3 |
|
Wholesale price index |
107.6 |
0.5 |
8.0 |
Producer price indices measure the development of commodity prices from enterprises' viewpoint. The basic price index for domestic supply measures the development of prices exclusive of tax of goods used in Finland as they enter the market. The wholesale price index describes the change in the purchase prices of goods used in Finland inclusive of tax. Both these indices contain domestic and imported goods.
The HWWA Index, used to measure the dollar-based world market prices of raw materials, fell by 2.5 per cent from June to July, primarily due to the lower world market prices of crude oil.
Source: Producer Price Indices 2000, July. Statistics Finland