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Latest publication: Producer price indices 2022, February

Published: 26 February 2020

Producer prices for manufactured products fell by 1.6 per cent from January last year

According to Statistics Finland, producer prices for manufactured products fell by an average of 1.6 per cent from January 2019 to January 2020. The producer prices for manufactured products sold on the domestic market went down by 1.8 per cent, while the producer prices of export products fell by 1.2 per cent.

Producer Price Index (PPI) 2015=100, 1/2015–01/2020

Producer Price Index (PPI) 2015=100, 1/2015–01/2020
The drop in the producer prices for manufactured products was particularly attributable to fallen prices of pulp, paper, paperboard and cardboard, as well as electricity and timber from January 2019. The fall in producer prices was slowed down especially by higher prices of oil products.

The export price index fell by 1.3 per cent and the import price index went up by 0.1 per cent in the year. The basic price index for domestic supply went down by 0.4 per cent. The basic price index for domestic supply including taxes fell by 0.6 per cent.

The decrease in the export price index was, in particular, affected by cheaper prices of pulp, paper, paperboard and cardboard, as well as timber compared to January last year. The fall in the export price index was particularly curbed by risen prices of oil products. The rise in the import price index was, in turn, especially attributable to increases in the prices of oil products. The rising of the import price index was curbed above all by reductions in the prices of electricity.

From December to January, producer prices for manufactured products fell by 0.7 per cent. Producer prices were particularly depressed by the drop in the prices of electricity from the previous month.

Producer Price Indices 2015=100, January 2020

  Index Monthly change, % Annual change, %
Producer Price Index, total 104.5 -0.7 -1.6
- Producer Price Index, domestic goods 103.9 -0.7 -1.8
- Producer Price Index, export goods 105.3 -0.8 -1.2
Export Price Index 104.9 -0.8 -1.3
Import Price Index 107.9 -0.8 0.1
Basic Price Index for Domestic Supply 106.9 -0.5 -0.4
Basic Price Index for Domestic Supply, incl. taxes 106.7 -0.6 -0.6

Producer Price Indices 1949=100, January 2020

  Index Monthly change, % Annual change, %
Production Price Index 2011 -0.7 -1.6
Export Price Index 1741 -0.8 -1.3
Import Price Index 1654 -0.8 0.1
Wholesale Price Index 2362 -0.6 -0.6

Weight structures of producer price indices updated

Producer price indices are annual chain indices, i.e. the weight structure of the indices is updated annually in January. The latest available data from National Accounts, the statistics on industrial output and Finnish Customs’ statistics on foreign trade are used when preparing the weight structures. The latest data from the supply and use tables of National Accounts concerned the year 2015. In respect of domestic supply, imports and exports these were raised by using the 2-digit level data for 2017 that were available from National Accounts. The most detailed level product group and enterprise weights are based on data from the foreign trade statistics of Finnish Customs and statistics on industrial output for 2018. In addition to the weight structure, product categories and the enterprise sample have also been updated.

Updating of the weight structure and sample improve the quality of the indices, because with their help, structural changes in production, exports and imports can be taken into account faster.


Source: Producer Price Index 2020, January. Statistics Finland

Inquiries: Anna-Riikka Pitkänen 029 551 3466, Veli Kettunen 029 551 2693, thi.tilastokeskus@stat.fi

Director in charge: Jan Nokkala

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Updated 26.2.2020

Referencing instructions:

Official Statistics of Finland (OSF): Producer price indices [e-publication].
ISSN=1799-3695. January 2020. Helsinki: Statistics Finland [referred: 25.5.2022].
Access method: http://www.stat.fi/til/thi/2020/01/thi_2020_01_2020-02-26_tie_001_en.html