Finland’s producer prices continued to decline in July, but at a slightly slower pace than in the previous month, figures from Statistics Finland showed Monday.
The producer price index for manufactured products fell 1.1 percent year-over-year in July, slightly slower than previous month’s 1.2 percent decrease. Producer prices have been falling since August 2013.
Producer prices dropped especially due to reductions in the prices of oil products and food products from July last year, while the fall in prices was slowed down especially by higher prices of paper and paper board products, the agency said.
Prices for manufactured products in the domestic market fell 1.7 percent and that in export market declined 0.4 percent.
Prices in manufacturing sector decreased 1.2 percent annually in July, and that in mining and quarrying sector dropped 2.6 percent. Utilities sector prices declined 0.5 percent, while the prices of water collection, treatment and supply grew 2.3 percent.
On a monthly basis, producer prices rose 0.1 percent in July, following a 0.3 percent decline in the previous month. In May, prices remained stable.
Import prices dipped 6.0 percent in July from a year ago and decreased 0.7 percent from the preceding month. The export price index declined 0.3 percent annually and remained stable from the prior month in July. Wholesale prices decreased 2.7 percent year-on-year and declined 0.2 percent monthly in July.
The material has been provided by InstaForex Company – www.instaforex.com