Manufactured goods see 3.8% price rise in March YoY

Producer prices for manufactured products rose by an average of 3.8 per cent from March 2022 to March 2023, according to Statistics Finland.

The producer prices of manufactured products sold on the domestic market rose by 6.7 per cent, while the producer prices of export products went up by 0.9 per cent.

The rise in the producer prices for manufactured products was particularly caused by higher prices of food products, paper and paper products and electricity compared to last year's March.

The increase in prices was curbed especially by the decrease in prices of oil products, iron and steel, and timber from a year ago.

The export price index rose by 1.0 per cent and the import price index by 0.7 per cent in a year.

The basic price index for domestic supply went up by 5.5 per cent and the basic price index for domestic supply including taxes rose by 5.2 per cent in a year.

From February to March, producer prices for manufactured products went down by 0.7 per cent. Producer prices fell especially due to fallen prices of electricity and paper and paper products compared with the previous month.

The fall in prices was curbed particularly by higher price of food products.