Financial News: Finland Producer Prices Fall Further

Finland Producer Prices Fall Further

04/24/2024 - 03:31:00 (RTTNews)

(RTTNews) - Finland's producer prices continued their declining trend in March, data from Statistics Finland showed on Wednesday.

The producer price index fell 4.5 percent year-over-year in March, following a 5.1 percent decline in the previous month. Prices have been falling since April 2023.

The decrease in producer prices for manufactured products was particularly caused by the fall in prices of basic metals, paper and paper products, and electricity, the agency said.

Domestic producer prices declined 3.5 percent annually, and those of export products slid by 5.9 percent.

On a month-on-month basis, producer prices dropped 0.1 percent after a 0.2 percent decrease.

Data also showed that the export price index logged a decline of 5.9 percent, and import prices dropped by 4.6 percent. The decrease in the export price index was especially due to lower prices of basic metals, paper and paper products, and chemicals and chemical products.

Separate official data showed that the jobless rate in the country rose to a ten-month high of 9.0 percent in March from 7.8 percent in February. A year ago, it was 6.9 percent.

There were 254,000 unemployed people in March, up from 220,000 in the previous month.

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