Producer prices for manufactured products fell by 10 per cent in July 2023 year-on-year

Product groups affecting the changes in indices

The decrease in the producer prices for manufactured products was particularly caused by the decrease in the prices of electricity, oil products and basic metals compared to last year's July. The fall in prices was curbed especially by the increase in prices of and machinery and equipment, and food products from a year ago.

The export price index went down by 12.3 per cent and the import price index by 13.3 per cent in a year. The basic price index for domestic supply went down by 7.0 per cent. The basic price index for domestic supply including taxes fell by 7.4 per cent.

The decrease in the export price index was especially due to lower prices of basic metals, chemicals and chemical products, and oil products compared to last year’s July. The fall in export prices was curbed especially by the increase in prices of machinery and equipment, and electrical equipment. The decrease in the import price index was, in turn, especially caused by lower prices of crude oil, electricity and natural gas. The fall in prices was curbed especially by the increase in prices of food products, and machinery and equipment.

From June to July, producer prices for manufactured products went down by 0.9 per cent. Producer prices fell especially due to fallen prices of basic metals, and paper and paper products compared with the previous month. The fall in prices was curbed especially by the increase in prices of oil products compared with the previous month.