Manufactured goods see 28.9% price rise in July YoY

Producer prices for manufactured products went up by an average of 28.9 per cent from July 2021 to July 2022, according to Statistics Finland.

The producer prices for manufactured products sold on the domestic market rose by 26.6 per cent, while the producer prices of export products went up by 31.3 per cent.

The rise in the producer prices for manufactured products was particularly caused by higher prices of oil products, chemicals and chemical products, and basic metals from last year's July.

The export price index rose by 31.0 per cent and the import price index by 32.5 per cent in a year. The basic price index for domestic supply went up by 25.1 per cent. The basic price index for domestic supply including taxes rose by 21.9 per cent.

The rise in the export price index was particularly due to higher prices of oil products, chemicals and chemical products, paper and paper products from last year's July.

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

From June to July, producer prices for manufactured products went down by 0.5 per cent.

Producer prices were particularly depressed by the drop in the prices of oil products compared with the previous month. The fall in the export price index was particularly curbed by risen prices of electricity.