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Financial News: Finland Producer Price Inflation Slows To 14.5%

Finland Producer Price Inflation Slows To 14.5%

01/24/2023 - 04:15:00 (RTTNews)

(RTTNews) - Finland's producer price inflation eased for the sixth straight month in December to the lowest level in one and a half years, though it remained strong overall, data from Statistics Finland showed on Tuesday.

Producer price inflation eased to 14.5 percent in December from 18.8 percent in November.

The latest inflation was the slowest since June 2021, when prices had risen 11.0 percent.

The overall inflation in December was due to increased prices for paper and paper products, electricity, and oil products, the statistical office said.

Domestic producer prices rose 14.6 percent annually in December.

Data also showed that import prices were 15.8 percent higher in December yearly, and export prices rose 13.2 percent.

On a month-on-month basis, producer prices declined 0.8 percent in December, the same as in the prior month. Prices fell for the fourth consecutive month.

In 2022, the producer price inflation accelerated to 24.2 percent from 12.7 percent in 2021.

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