Financial News: Finland Producer Price Inflation Rises; Jobless Rate Highe

Finland Producer Price Inflation Rises; Jobless Rate Highest Since May 2020

(RTTNews) - Finland's producer prices increased at a faster pace in February, and the unemployment rate climbed to the highest level in nearly six years, separate reports from Statistics Finland showed on Tuesday.

The producer price index climbed 3.8 percent year-on-year in February, faster than the 1.9 percent rebound in January. Moreover, a similar rise was last seen in March 2023.

The rise in the producer prices was particularly caused by higher prices of electricity and basic precious and other nonferrous metals, the agency said.

On the other hand, the increase in prices was curbed, especially by the decrease in prices of paper and paper products and refined petroleum products.

On a monthly basis, producer prices climbed 1.9 percent, slower than the 4.3 percent growth in January.

Data showed that the export price index dropped 0.4 percent in February from last year, and import prices were 2.1 percent lower.

The unemployment rate in Finland rose to 10.9 percent in February from 10.4 percent in January. Moreover, this was the highest jobless rate since May 2020.

There were 312,000 unemployed people in February, up from 295,000 in the previous month. Data showed that the employment rate climbed to 61.2 percent from 60.6 percent.

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