18 June, 1998
Inquiries: Mr Jarmo Ranki + 358 9 1734 3472
Statistical Director in charge: Mr Jarmo Hyrkkö
Import prices down by 1.3 per cent in the year
According to Statistics Finland, import prices fell by 1.3 per cent in the year to May. In April the prices were still up by 0.1 per cent in the year. The fall was due to lower prices of crude oil, electrical equipment, metal ores and colour metals.
The import prices of energy products fell by nearly 10 per cent and those of raw materials and output commodities by 2 per cent in the year to May. In contrast, the import prices of durable consumer goods, other consumer goods and investment goods rose by about one per cent in the year.
Import prices went down by 0.3 per cent from April to May, which was due to lower prices of base metals, electrical equipment and metal ores.
Export prices rose by close on one per cent from last year's May. The increase was due to higher prices of paper and board, and iron and steel metals. In contrast, lower prices of electrical equipment, oil products and colour metals curbed the rise of the export price index.
The export prices of paper and board went up by under 8 per cent in the year to May. In the same period, the export prices of electrical equipment went down by good 6 per cent.
Producer prices for manufactured goods, or producer prices for goods intended for the domestic market, fell by 0.3 per cent in the year. This was due to lower prices of colour metals, oil products, electrical equipment and timber. The annual change of the producer price index for manufactured goods was last negative in February 1997.
Wholesale prices went down by 0.2 per cent in the year to May. The wholesale prices of domestic goods rose by 0.2 per cent and those of imported goods fell by 0.9 per cent.
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| Monthly and annual changes in producer price indices, May 1998, % | ||
| Indices | 4/98 - 5/98 | 5/97 - 5/98 |
| Producer price index for manufactured goods | 0.0 | -0.3 |
| Export price index | 0.0 | 0.8 |
| Import price index | -0.3 | -1.3 |
| Basic price index for domestic supply | 0.0 | -0.3 |
| Wholesale price index | 0.0 | -0.2 |
Source: Producer Price Indices 1998, May. Statistics Finland