Producer prices for manufactured products rose by 0.2 per cent in July 2024 year-on-year

Product groups affecting the changes in indices

Producer prices for manufactured products rose by an average of 0.2 per cent from a year ago. The rise in the producer prices was particularly caused by higher prices of pulp, machinery and equipment, and timber compared with last year's July. The increase in prices was curbed especially by the decrease in prices of electricity, paper and paperboard, and metal products from a year ago. 

The export price index went up by 1.3 per cent in a year. The rise in export prices was especially due to higher prices of pulp, basic metals and precious metals compared with last year’s July. The rise in export prices was curbed especially by the decrease in prices of paper and paperboard, oil products and basic chemicals. 

The import price index went down by 0.3 per cent in a year. The decrease in import prices was, in turn, especially caused by lower prices of basic metals, electricity, and waste compared with last year’s July. The fall in prices was curbed especially by the increase in prices of crude oil, pharmaceutical preparations, and food products.

The basic price index for domestic supply fell by 0.5 per cent and the basic price index for domestic supply including taxes went up by 0.2 per cent from a year ago.

From June to July, producer prices for manufactured products went down by 0.4 per cent. Producer prices fell especially due to fallen prices of electricity, and chemicals and chemical products compared with the previous month. The fall in prices was curbed especially by the increase in prices of oil products, and paper and paper products compared with the previous month.