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Financial News: Finland PPI Inflation Accelerates Further In June

Finland PPI Inflation Accelerates Further In June

07/25/2022 - 02:26:00 (RTTNews)

(RTTNews) - Finland's producer price inflation accelerated for the fourth successive month in June, primarily driven by higher prices of oil products, basic metals, chemicals and chemical products, data from Statistics Finland showed on Monday.

Producer prices climbed 33.9 percent year-on-year in June, following a 31.7 percent increase in May.

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

The upward trend in inflation was largely caused by increased prices for oil, basic metals, chemicals, and chemical products, the statistical office said.

Domestic producer prices rose 30.4 percent annually in June, and foreign market prices grew 37.6 percent.

Data also showed that import prices were 34.8 percent higher in June compared to last year amid higher prices of crude oil, oil products, chemicals and chemical products.

On a month-on-month basis, producer prices moved up 3.3 percent in June, slower than the 4.4 percent gain in the prior month.

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