18 September 2002
Inquiries: Mr Jari Harjunpää +358 9 1734 3472, Ms
Marja Ikonen +358 9 1734 3480
Director in charge: Mr Kari Molnar
Export prices fell by 3.3 per cent in the year
According to Statistics Finland, producer prices fell by 1.4 to 3.3 per cent from August 2001 to August 2002. Export prices fell most, by 3.3 per cent and wholesale prices least, by 1.4 per cent.
The fall in export prices was primarily caused by that prices of paper and paperboard went down by 6.6 per cent and prices of electronic goods by 5.9 per cent from the year before.
Import prices declined by 3.1 per cent in the year to August. The fall was mainly due to a 7.7 per cent reduction in prices of chemicals and chemical products and a 6.7 per cent decrease in prices of energy minerals.
In addition to changes in foreign currency denominated prices, import and export prices were influenced by the 7.9 per cent weakening of the US dollar against the euro from last year's August.
Producer prices for manufactured products, that is, prices for goods intended for the domestic market went down by 1.8 per cent in the year. This was mainly attributable to lower prices of pulp, oil products, electronic goods, chemicals and chemical products.
Export prices fell by 0.7 per cent from July to August
According to Statistics Finland, export prices went down by 0.7 per cent from July to August. The fall was mainly due to lower prices of pulp, paper and paper products, and base metals. The decline of prices was curbed by a 3.1 per cent rise in prices of timber and paper products.
Month-on-month and year-on-year changes of Producer Price Indices in August 2002
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|
Indices (1995=100) |
Point figure |
Change, % |
Change, % |
|
Producer price index for manufactured products |
105.6 |
-0.1 |
-1.8 |
|
Export price index |
96.2 |
-0.7 |
-3.3 |
|
Import price index |
104.0 |
-1.3 |
-3.1 |
|
Basic price index for domestic supply |
106.4 |
-0.3 |
-1.5 |
|
Wholesale price index |
106.6 |
-0.3 |
-1.4 |
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.
Source: Producer Price Indices 2002, August. Statistics Finland