18 January, 1999
Inquiries: Mr Jarmo Ranki +358 9 1734 3472, Ms Sonja
Karell +358 9 1734 3469
Director in charge: Mr Jarmo Hyrkkö
Both import and export prices down
According to Statistics Finland, import prices went down by 3.5 per cent from 1997 to 1998, when comparing the average prices for the whole year. The year before, the import prices rose by 0.9 per cent. From December 1997 to last year's December, import prices fell by 7.4 per cent and from November to December by 0.9 per cent. The prices of crude oil, in particular, went down both in one month and in the year, and the prices of electrical equipment also in the year.
Export prices went down by 1.1 per cent from 1997 to 1998, by 6.8 per cent in the year to December and by 0.8 per cent from November to December. The prices of electrical equipment and oil products especially fell in the year and those of pelts and oil products, for ecample, in one month.
Producer prices for manufactured goods, or prices for goods intended for the domestic market fell by 1.4 per cent from 1997 to 1998, by 4.5 per cent in the year to December and by 0.5 per cent from November to December.
The HWWA index, used to measure the US dollar-based world market prices of raw materials, was down by good 22 per cent from 1997 to 1998. The biggest reduction occurred in the price of energy, which went down, on average, by 29 per cent. The prices of industrial raw materials fell, on average, by 15 per cent.
Monthly and annual changes in producer price indices,
December 1998
and year-on-year change 1997 - 1998, %
>
| Indices | 11/98 - 12/98 |
12/97 - 12/98 |
1997 - 1998 |
| Producer price index for manufactured goods | -0.5 | -4.5 | -1.4 |
| Export price index | -0.8 | -6.8 | -1.1 |
| Import price index | -0.9 | -7.4 | -3.5 |
| Basic price index for domestic supply | -0.5 | -4.1 | -1.4 |
| Wholesale price index | -0.5 | -3.8 | -1.3 |
Source: Producer Price Indices 1998, December. Statistics Finland