Import prices down by five per cent in the year

According to Statistics Finland, import prices went down by 5.1 per cent in the year to August. The fall was due to lower prices of crude oil, electrical equipment, colour metals, metal ores, chemicals and oil products.

The import prices of energy products went down by almost 22 per cent and those of raw materials and output commodities by 6 per cent in the year. The prices of minerals and colour metals fell most, good 24 per cent. The prices of oil products went down by 17 per cent and those of electrical equipment by 8 per cent.

Import prices went down by 0.7 per cent from July to August, which was due to lower prices of electrical equipment, agricultural products, chemicals, crude oil, electricity, colour metals, and rubber and plastic products.

Export priceswent down by 1.6 per cent in the year to August because of lower prices of electrical equipment, oil products, timber and colour metals.

From July to August, export prices fell by 0.6 per cent. The prices of pulp, paper and paper products, and chemicals, colour metals and oil products, in particular, went down.

Producer prices for manufactured goods, or producer prices for goods intended for the domestic market, fell by 1.9 per cent from August last year. This was due to lower prices of oil products, colour metals, electrical equipment, food, chemicals and timber.

Producer prices for manufactured goods went down by 0.4 per cent from July to August. This was primarily due to lower prices of energy products, raw materials and output commodities.

Wholesale pricesfell by 2.1 per cent in the year to August. The wholesale prices of imported goods went down by 4.5 per cent and those of domestic goods by 0.8 per cent.

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Monthly and annual changes in producer price indices, August 1998, %
Indices	7/98 - 8/98	8/97 - 8/98
Producer price index for manufactured goods	-0.4	-1.9
Export price index	-0.6	-1.6
Import price index	-0.7	-5.1
Basic price index for domestic supply	-0.3	-2.1
Wholesale price index	-0.3	-2.1

Source: Producer Price Indices 1998, August. Statistics Finland