Manufactured products hike by over 3% in a year

Producer prices for manufactured products rose by an average of 3.6 per cent from November 2016 to November 2017, according to Statistics Finland.

Producer prices for manufactured products sold on the domestic market rose by 2.5 per cent, while the producer prices of export products went up by 5.0 per cent.

The increase in the producer prices for manufactured goods was particularly attributable to risen prices of manufacturing of basic metals, oil products and chemicals and chemical products from November 2016. The rising of producer prices was curbed particularly by fallen prices of electricity and paper and paper board.

The Export Price Index rose by 5.0 per cent and the Import Price Index by 8.4 per cent in the year. The Basic Price Index for Domestic Supply went up by 4.6 per cent. The Basic Price Index for Domestic Supply including taxes went up by 4.4 per cent.

Export prices were, in particular, boosted by higher prices of manufacturing of basic metals and oil products from November 2016. The rising of the prices was curbed particularly by fallen cost of paper and paper board. The rise in import prices was, in turn, especially caused by higher prices of oil products and metal ores from last year's November. The rising of the prices was curbed above all by falls in the prices of electricity.

From October to November, producer prices for manufactured goods went up by 0.6 per cent. The rise was mainly due to increased prices of oil products from the previous month.