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Latest publication: Producer price indices 2021, March

Published: 24 March 2021

Producer prices for manufactured products grew by 2.0 per cent from February last year

According to Statistics Finland, producer prices for manufactured products rose by an average of 2.0 per cent from February 2020 to February 2021. The producer prices for manufactured products sold on the domestic market rose by 3.5 per cent, while the producer prices of export products went up by 0.5 per cent.

Producer Price Index (PPI) 2015=100, 1/2015–02/2021

Producer Price Index (PPI) 2015=100, 1/2015–02/2021
The increase in the producer prices for manufactured products was particularly attributable to risen prices of electricity, basic metals and timber from February of the previous year. The rising of producer prices was curbed above all by falls in the prices of pulp, paper, paperboard and cardboard as well as oil products.

The export price index rose by 0.5 per cent and the import price index by 1.0 per cent over the year. The basic price index for domestic supply went up by 1.8 per cent. The basic price index for domestic supply including taxes supply went up by 2.2 per cent.

The rise in the export price index was particularly caused by higher prices of basic metals, metal ores as well as iron and steel from February of the previous year. The rise in the import price index was, in turn, especially caused by higher prices of electricity and basic metals.

From January to February, producer prices for manufactured products rose by 1.7 per cent. Producer prices were particularly boosted by the risen prices of oil products compared with the previous month.

Producer Price Indices 2015=100, February 2021

  Index Monthly change, % Annual change, %
Producer Price Index, total 105.5 1.7 2.0
- Producer Price Index, domestic goods 106.2 1.3 3.5
- Producer Price Index, export goods 104.8 2.3 0.5
Export Price Index 104.5 2.3 0.5
Import Price Index 107.4 2.9 1.0
Basic Price Index for Domestic Supply 107.8 1.6 1.8
Basic Price Index for Domestic Supply, incl. taxes 108.1 1.3 2.2

Producer Price Indices 1949=100, February 2021

  Index Monthly change, % Annual change, %
Production Price Index 2030 1.7 2.0
Export Price Index 1735 2.2 0.5
Import Price Index 1646 2.9 1.0
Wholesale Price Index 2394 1.3 2.2

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 the National Accounts concerned the year 2017. In respect of domestic supply, imports and exports these were raised by using the 2-digit level data for 2019 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 2019. In addition to the weight structure, product categories and the enterprise sample have also been updated.

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

Calculation of the consumer price of wood pellets was revised

The calculation of the consumer price of wood pellets and the index based on the consumer price has been revised in January, and the base year of the index has been changed to 2015=100. The sample and weight structure of consumer sales points in the index have been updated to correspond with the value data on consumer sales for 2018. The index data and the average price of wood pellets have been calculated with the new sample and weights starting from February 2020. November 2019 and data prior to this are based on the old sample and weights. The index is scaled so that the average for 2015 is 100. If necessary, the new point figures for the 2015=100 series can be scaled to point figures for the 2010=100 series by multiplying them with the chaining coefficient 1.05031.


Source: Producer Price Index 2021, February. Statistics Finland

Inquiries: Anna-Riikka Pitkänen 029 551 3466, Ville Auno 029 551 3023, thi.tilastokeskus@stat.fi

Head of Department in charge: Katri Kaaja

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Updated 24.03.2021

Referencing instructions:

Official Statistics of Finland (OSF): Producer price indices [e-publication].
ISSN=1799-3695. February 2021. Helsinki: Statistics Finland [referred: 9.5.2021].
Access method: http://www.stat.fi/til/thi/2021/02/thi_2021_02_2021-03-24_tie_001_en.html