Financial News: Finland Producer Prices Decline 0.3% In April

Finland Producer Prices Decline 0.3% In April

(RTTNews) - Finland's producer prices declined for the first time in twenty-six months, led by lower prices of oil products, iron and steel, and timber, data from Statistics Finland showed on Wednesday.

The producer price index dropped 0.3 percent year-over-year in April, reversing a 3.8 percent rise in March. Further, this was the first decline since February 2021.

The drop in producer prices for manufactured products was particularly caused by the decrease in the prices of oil products, iron and steel, and timber compared to last year's April, the agency said.

On the other hand, prices rose in the categories of food products, machinery and equipment, and electricity from a year ago.

Domestic producer prices climbed 4.0 percent annually in April, while those in the export market declined by 4.5 percent.

Data also showed that import prices were 3.6 percent lower in April than a year ago, and export prices slid 4.4 percent.

On a month-on-month basis, producer prices declined 1.6 percent from March, when they decreased by 0.7 percent. Prices fell for the eighth consecutive month.

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