Producer prices for manufactured products fell by 7.6 per cent in December 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 prices of electricity, paper and paper products, and basic metals compared to last year's December. The fall in prices was curbed especially by the increase in prices of machinery and equipment, and waste from a year ago.

The export price index went down by 7.7 per cent and the import price index by 9.4 per cent in a year. The basic price index for domestic supply went down by 5.9 per cent. The basic price index for domestic supply including taxes fell by 5.9 per cent.

The decrease in the export price index was especially due to lower prices of paper and paper products, basic metals, and chemicals and chemical products compared to last year’s December. The fall in export prices was curbed especially by the increase in prices of machinery and equipment. The decrease in the import price index was, in turn, especially caused by lower prices of electricity, basic metals, and chemicals and chemical products. The fall in prices was curbed especially by the increase in prices of pharmaceutical preparations, and machinery and equipment.

From November to December, producer prices for manufactured products went down by 0.7 per cent. Producer prices fell especially due to fallen prices of oil products compared with the previous month. The fall in prices was curbed especially by the increase in prices of electricity compared with the previous month.