18 December 2001
Inquiries: Mr Jari Harjunpää +358 9 1734 3472, Ms
Christina Harjunpää +358 9 1734 3469, thi.tilastokeskus@stat.fi
Director in charge: Mr Ilkka Lehtinen
Import prices fell by 11.6 per cent in the year
According to Statistics Finland, import prices went down by 11.6 per cent from last year's November. With the exception of durable goods, the indices of all other purpose of use categories declined. Prices of energy products fell most, by 38.6 per cent. From October to November, import prices decreased by 2.0 per cent. The fall was mainly due to lower prices of crude oil and oil products. From October prices of energy products went down by 12.3 per cent.
Export prices decreased by 6.3 per cent from November 2000. The fall was primarily caused by lower prices of oil products, base metals, pulp and electrical products. From October to November, export prices went down by 0.8 per cent. The fall of the total index was mainly due to lower prices of oil products, electrical products, timber and wood products.
The producer prices for manufactured products, that is, prices for goods intended for the domestic market fell by 2.2 per cent from November 2000. The fall was mainly caused by reduced prices of oil products, pulp and base metals. The fall of the index was curbed by higher price of electricity.
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Month-on-month and year-on-year changes of Producer Price Indices in November 2001, % (1995=100) |
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|
Indices |
Point figure |
Change, % |
Change, % |
|
Producer price index for manufactured products |
105.8 |
-0.3 |
-2.2 |
|
Export price index |
97.1 |
-0.8 |
-6.3 |
|
Import price index |
102.5 |
-2.0 |
-11.6 |
|
Basic price index for domestic supply |
105.8 |
-0.8 |
-4.5 |
|
Wholesale price index |
106.0 |
-0.7 |
-4.4 |
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 31.9 per cent from last year's November. Price of crude oil fell most, by 42.0 per cent.
Source: Producer Price Indices 2001, November. Statistics Finland