Producer prices for manufactured products fell by 2.3 per cent in August 2024 year-on-year

Product groups affecting the changes in indices

Producer prices for manufactured products fell by an average of 2.3 per cent from a year ago. The fall in the producer prices was particularly caused by lower prices of oil products, electricity, and chemicals and chemical products compared with last year's August. The decrease in prices was curbed especially by the increase in prices of pulp, timber, and machinery and equipment from a year ago.

The export price index went down by 0.6 per cent in a year. The fall in export prices was especially due to lower prices of oil products, basic chemicals, and paper and paperboard compared with last year’s August. The fall in export prices was curbed especially by the increase in prices of pulp, machinery and equipment, and timber.

The import price index went down by 2.2 per cent in a year. The decrease in import prices was, in turn, especially caused by lower prices of oil products, electricity, and basic metals with last year’s August. The fall in prices was curbed especially by the increase in prices of pharmaceutical preparations, food products and natural gas.

The basic price index for domestic supply fell by 2.4 per cent and the basic price index for domestic supply including taxes went down by 1.6 per cent from a year ago.

From July to August, producer prices for manufactured products went down by 0.8 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 pulp compared with the previous month.