Manufactured goods see 18.8 % price rise in Nov YoY

Producer prices for manufactured products rose by an average of 18.8 per cent from November 2021 to November 2022, according to Statistics Finland.

The producer prices of manufactured products sold on the domestic market rose by 19.9 per cent, while the producer prices of export products went up by 17.6 per cent.

The rise in the producer prices for manufactured products was especially due to higher prices of oil products, electricity, paper and paper products compared to last year’s November.

The export price index rose by 17.4 per cent and the import price index by 18.5 per cent in a year.

The basic price index for domestic supply went up by 17.3 per cent. The basic price index for domestic supply including taxes rose by 17.7 per cent.

The rise in the export price index was especially due to higher prices of paper and paper products, oil products and chemicals and chemical products compared to last year’s November.

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

From October to November, producer prices for manufactured products went down by 0.8 per cent. Producer prices fell especially due to fallen prices of oil products compared with the previous month. The fall in prices was curbed particularly by higher price of electricity.