Producer prices for manufactured goods rise 11% in June

Producer prices for manufactured products rose by an average of 11.0 per cent from June 2020 to June 2021, according to Statistics Finland.

Producer prices for manufactured products sold on the domestic market rose by 10.4 per cent, while the producer prices of export products went up by 11.7 per cent.

The rise in the producer prices for manufactured products was particularly caused by increased prices of oil products and basic metals from last year’s June.

The export price index rose by 11.8 per cent and the import price index by 12.6 per cent in the year.

The basic price index for domestic supply went up by 8.8 per cent. The basic price index for domestic supply including taxes rose by 8.0 per cent.

The rise in the export price index was especially caused by higher prices of oil products, basic metals, chemicals and chemical products from last year’s June.

The rise in the import price index was, in turn, especially caused by higher prices of crude oil, chemicals and chemical products, as well as basic metals.

From May to June, producer prices for manufactured products rose by 1.6 per cent. Producer prices were particularly boosted by the risen prices of electricity and oil products compared with the previous month.