Producer prices for manufactured products fell by 5.4 per cent in January 2024 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 paper and paper products, oil products and basic metals compared to last year's January. The fall in prices was curbed especially by the increase in prices of waste, and machinery and equipment from a year ago.

The export price index went down by 7.6 per cent and the import price index by 4.7 per cent in a year. The basic price index for domestic supply went down by 3.1 per cent. The basic price index for domestic supply including taxes fell by 2.8 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 January. 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 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 December to January, producer prices for manufactured products went up by 0.3 per cent. Producer prices were particularly boosted by the higher prices of electricity compared with the previous month. The rise in prices was curbed especially by the fallen prices of chemicals and chemical products compared with the previous month. 

Annual update of the index weight structure

In January 2024, the weight structure of the producer price indices was updated to reflect the structure of the 2023 economy. More information about the update of the weight structure can be found on the home page of the producer price indices under comparability in the documentation section.