18 October, 1999
Inquiries: Mr Jarmo Ranki +358 9 1734 3472, Ms Sonja
Karell +358 9 1734 3469
Director in charge: Mr Jarmo Hyrkkö
Producer prices up by 1.5 per cent in September
According to Statistics Finland, import prices rose by 1.5 per cent from August to September. The rise in import prices was caused by higher world market prices of crude oil, oil products and colour metals.
In the year to September, import prices went up by 4.7 per cent. The increase was particularly due to higher price of crude oil, but also to increases in the prices of oil products and colour metals. Import prices of oil products increased by 63 per cent and those of colour metals by 30 per cent in the year to September. In contrast, import price increases were curbed by lower prices of electrical equipment, and agricultural and forestry products.
Export prices fell by 1.1 per cent from August to September, due to lower prices of electrical equipment. From last year's September, export prices have gone down by 4.4 per cent, primarily due to falls in the prices of electrical equipment, but also because of lower prices of iron and steel metals. Export prices of electrical equipment went down by 18 per cent and those of iron and steel metals by 22 per cent in the year to September.
Producer prices for manufactured goods, or producer prices for goods intended for the domestic market, rose by 0.4 per cent from August to September. This was due to increases in the prices of oil products and colour metals. In the year to September, producer prices for manufactured goods went up by 0.3 per cent.
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Producer price indices 1995=100 and their monthly and annual changes in September 1999, % |
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Indices |
Point figure 9/1999 |
Change 8/99 - 9/99, % |
Change 9/98 - 9/99, % |
|
Producer price index for manufactured goods |
98.9 |
0.4 |
0.3 |
|
Export price index |
93.0 |
-1.1 |
-4.4 |
|
Import price index |
100.3 |
1.5 |
4.7 |
|
Basic price index for domestic supply |
100.4 |
0.7 |
1.3 |
|
Wholesale price index |
100.6 |
0.6 |
1.1 |
Producer price indices measure the development of commodity prices from enterprises' viewpoint. The basic price index for domestic supply measures the price development of goods used in Finland as they enter the market, i.e. purchase prices exclusive of tax. The wholesale price index measures the change in the purchase prices of goods used in Finland inclusive of tax. Both these indices contain domestic and imported goods.
The HWWA Index, used to measure the dollar-based world market prices of raw materials, rose by 7.2 per cent from August to September. From last year's September, the index has gone up by 28.6 per cent. Both the monthly and annual rises were principally caused by increases in the price of crude oil, but also by higher price of colour metals.
Source: Producer Price Indices 1999, September. Statistics Finland