Manufactured goods see 0.8% price cut YoY

Producer prices of manufactured goods in November dropped by 0.8 per cent on an average from that in November 2018, according to the Statistics Finland.

The producer prices of manufactured products sold on the domestic market declined by 0.7 per cent, while that of export products fell by 0.9 per cent.

The slump in the producer prices of manufactured products was particularly attributable to reduced prices of pulp, paper, paperboard and cardboard, as well as oil products and timber from November 2018.

The export price index dropped by 1.0 per cent and the import price index by 0.5 per cent in the year. The basic price index for domestic supply went down by 0.3 per cent. The basic price index for domestic supply including taxes fell by 0.1 per cent.

The decrease in the export price index was influenced in particular by cheaper prices of pulp, paper, paperboard and cardboard, as well as timber, compared to that in November last year. The fall in the import price index was, in turn, especially attributable to reductions in the prices of iron and steel.

From October to November, producer prices for manufactured goods fell by 0.2 per cent. Producer prices were particularly depressed by the drop in the prices of timber compared with that in the previous month.