18 February, 1998
Inquiries: Mr Jarmo Ranki + 358 9 1734 3472, Ms Anne
Forss + 358 9 1734 3469
Statistical Director in charge: Mr Jarmo Hyrkkö
Producer price indices fell by 0.4 - 0.9 per cent from December to January
The year-on-year changes of the revised producer price indices of Statistics Finland fluctuated between minus 0.1 and plus 1.7 per cent in January 1998. From December 1997 to January 1998, all indices fell by between 0.4 and 0.9 per cent.
Export prices went up by 1.7 per cent in the year to January. The increase was due to higher prices of base metals, machinery and equipment, pulp, and sawn timber. From December to January, export prices fell by 0.4 per cent due to lower prices of refined oil products and base metals.
Import prices went down by 0.1 per cent in the year to January. From December to January, import prices fell by 0.9 per cent, due to lower prices of crude oil, metal ore and base metals.
Producer prices for manufactured goods or, according to the new index, producer prices for domestic goods went up by 1.3 per cent in the year. This was especially due to higher prices of pulp and distance heating. From December to January, producer prices for domestic goods fell by 0.7 per cent. This was due to lower prices of energy products, and raw materials and producers goods.
Prices for domestic supply, i.e. prices measured by the basic price index for domestic supply, went up by 1.1 per cent in the year. From December to January, the index fell by 0.6 per cent.
Wholesale prices rose by 1.1 per cent in the year. The wholesale prices of domestic goods went up by 1.6 per cent and those of imported goods by 0.1 per cent.
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| Monthly and annual changes in producer price indices, January 1998, % | |||
| Indices | 12/97 - 1/98 | 1/97 - 1/98 | |
| Producer price index for manufactured goods | -0.7 | 1.3 | |
| Export price index | -0.4 | 1.7 | |
| Import price index | -0.9 | -0.1 | |
| Basic price index for domestic supply | -0.6 | 1.1 | |
| Wholesale price index | -0.6 | 1.1 | |
Revised producer price indices
Statistics Finland has carried out a revision of the producer price indices. The new base year for the indices is 1995, instead of the previous base year of 1990. The point figures for January 1998 will be the first to be published from the revised producer price indices. Time series from the new indices will be available as from the January 1998 index data.
Main changes of the producer price indices
* The weight structure and the commodities to be monitored have been revised to correspond with the 1995 structure of production, import and export. The weight structure of the indices is based on the 1995 industrial statistics of Statistics Finland, and on the National Board of Customs data on foreign trade, which have been supplemented with data from national accounts.
* The concept of the producer price index for manufactured goods has been revised to correspond with the common EU practice. The new producer price index for manufactured goods 1995=100 only measures producer prices for goods manufactured for the domestic market, whereas the index 1990=100 covered the prices for all industrial production in Finland, i.e. goods produced for domestic and export markets alike.
* The classification of the commodities in the index now follows the EU's commodity classification (CN classification).
* The previously used classification of commodities into three groups according to purpose of use has been replaced with the EU's classification into five groups according to purpose of use.
Source: Producer Price Indices, January 1998. Statistics Finland