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Financial News: Finland Producer Prices Strongly Rise In December

Finland Producer Prices Strongly Rise In December

01/24/2017 - 02:37:00 (RTTNews)

(RTTNews) - Finland's producer prices rose for a second straight month in December and the pace of increase quadrupled, mainly due to higher oil prices and increased cost of metal manufacturing, preliminary figures from Statistics Finland showed Tuesday.

The producer price index for manufactured products rose to 2.4 percent in December from 0.6 percent in November. The latest increase was the strongest since November 2011, when prices grew 3.5 percent.

Producer prices for products sold on the domestic market rose by 2.3 percent, while those of export products climbed 2.6 percent.

The agency attributed the strong increase to higher prices of oil products and manufacturing of basic metals from December 2015. The rising of the prices was curbed particularly by falls in the prices of paper and paper products, and electronic appliances, it added.

On a month-on-month basis, producer prices rose 0.8 percent in December after a 0.6 percent increase in November.

In 2016, producer prices declined an average 2.3 percent versus a 1.9 percent drop in 2015. Prices have been falling since 2013.

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