18 February 2003
Inquiries: Mr Jari Harjunpää +358 9 1734 3472, Mr
Anssi Vuorio +358 9 1734 2934
Director in charge: Mr Kari Molnar
Export prices fell by 2.7 per cent in the year
The year-on-year change of Statistics Finland's revised producer price indices varied between -2.7 and 1,8 per cent in January 2003. Export prices went down by 2.7 per cent from last year's January. The fall was mainly attributable to lower prices of electronic and electrical equipment, pulp, paper and paper products. The fall was curbed by higher prices of oil products, metals and metal products.
Import prices rose by 1.8 per cent from January 2002. This was principally caused by higher prices of crude oil, motor vehicles and trailers and oil products.
Wholesale prices, i.e. prices of goods sold in Finland inclusive of tax, went up by 0.9 per cent from January last year. The rise was particularly due to higher prices of crude oil, oil products and electricity. The rise of the prices was restrained most by lower prices of electronic and electrical equipment.
Prices for goods intended for the domestic market rose by 0.5 per cent in January
Prices for goods intended for the domestic market grew by 0.5 per cent from December to January. The rise was mainly due to higher prices of electricity and oil products. The rise was held back by lower prices of basic chemicals and pulp, paper and paper products.
Wholesale prices rose by 0.6 per cent from December to January. This was primarily caused by risen prices of electricity and oil products. The rise of wholesale prices was restrained especially by lower prices of taxable import prices of motor vehicles.
Month-on-month and year-on-year changes of Producer Price Indices in January 2003, % (2000=100)
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| Indices | Point figure 1/2003 |
Change, % 12/2002 - 1/2003 |
Change, % 1/2002 - 1/2003 |
| Producer price index for manufactured products, total | 94.3 | 0.3 | -1.1 |
| Producer price index for manufactured products. domestic market goods | 99.9 | 0.5 | 0.0 |
| Export price index | 88.9 | 0.1 | -2.7 |
| Import price index | 95.3 | 0.8 | 1.8 |
| Basic price index for domestic supply | 99.2 | 0.4 | 0.9 |
| Wholesale price index | 98.5 | 0.6 | 0.9 |
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.
Producer price indices revised
Statistics Finland has revised the producer price indices. The new base year of the indices is 2000. The indices were last renewed in February 1998, when 1995 became the base year of the indices. Time series are available on the new 2000=100 producer price indices from January 2000 onwards.
The weight structure of the producer price indices and the commodity headings to be monitored were revised to conform to the structure of domestic market production, exports and imports in 2000. The weight structure of the indices is based on the data of Statistics Finland's structural statistics of manufacturing and the National Board of Customs' foreign trade statistics for 2000, supplemented with National Accounts data.
The statistical classification of products by activity, CPA was introduced into the commodity classification of indices. The CPA is the European Union's activity-oriented classification of goods and services. A new industrial classification, TOL 2002, was brought into use as the classification standard of national official statistics confirmed by Statistics Finland.
The concept of the producer price index was changed so that the new producer price index for manufactured products 2000=100 includes goods produced both for the domestic market and exports. In the 1995=100 index the producer price index for manufactured products contained only domestic market goods.
Source: Producer Price Indices 2003. January. Statistics Finland