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Financial News: Finland PPI Inflation Accelerates In May

Finland PPI Inflation Accelerates In May

06/27/2022 - 03:49:00 (RTTNews)

(RTTNews) - Finland's producer prices increased at a faster rate in May, driven by higher prices for oil products, basic metals, chemicals and chemical products, data from Statistics Finland showed on Monday.

Producer prices climbed 31.7 percent year-on-year in May, following a 29.2 percent increase in April.  

Moreover, the rate of increase was the highest since the current rising trend began in February 2021.

The overall rise in producer prices for manufactured goods in May was primarily caused by higher prices for oil, basic metals, chemicals, and chemical products. Domestic producer prices rose 27.7 percent annually in May, and foreign market prices surged 36.0 percent.

Import prices rose 34.7 percent annually in May, led mainly by increases in the prices of crude oil, oil products, and chemicals and chemical products. Export prices also  grew sharply by 35.7 percent.

On a month-on-month basis, producer prices increased 4.4 percent in May, following a 2.5 percent rise in the prior month.

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