18 June 2001
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
Import prices rose by 1.1 per cent in May
According to Statistics Finland, producer price indices went up by 0.3 to 1.1 per cent in May. Import prices rose most, by 1.1 per cent. This rise was mainly due to higher prices of minerals, non-ferrous metals and vehicles. Import prices have risen by 0.3 per cent from May 2000. The highest increases occurred in the prices of energy products, up by 10.8 per cent, while the prices of raw materials and output commodities fell by 2.7 per cent.
Wholesale prices went up by 0.7 per cent from April to May. The rise was primarily attributable to higher prices of crude oil, oil products, electricity and district heat. The rise of the index was curbed by lower price of pulp. Compared to one year previously, wholesale prices rose by 2.1 per cent.
The producer prices for manufactured products, that is, prices for good intended for the domestic market went up by 0.6 per cent from April to May. The rise was mainly caused by higher prices of oil products, electricity, district heat and slaughter products. Lower prices of pulp, paper and paper products restrained the rise of the index. From May last year, the producer prices for manufactured products went up by 3.0 per cent. The prices of energy products and consumer durables rose most.
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Month-on-month and year-on-year changes of Producer Price Indices in May 2001 (1995=100) |
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Indices |
Point figure |
Change, % |
Change, % |
|
Producer price index for manufactured products |
107.6 |
0.6 |
3.0 |
|
Export price index |
102.7 |
0.3 |
2.2 |
|
Import price index |
110.2 |
1.1 |
0.3 |
|
Basic price index for domestic supply |
108.9 |
0.7 |
2.2 |
|
Wholesale price index |
109.0 |
0.7 |
2.1 |
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, went down by 1.6 per cent from last year's May. Without the energy group, the index fell by 7.3 per cent. Compared to May 2000, the prices of food and beverages decreased most, by 12.6 per cent, while the prices of energy products rose by 1.1 per cent.
Source: Producer Price Indices 2001, May. Statistics Finland