Financial News: Finland Producer Prices Fall Sharply, Jobless Rate Rises

Finland Producer Prices Fall Sharply, Jobless Rate Rises

10/24/2023 - 03:55:00 (RTTNews)

(RTTNews) - Finland's producer prices continued to decrease markedly in September, largely led by lower prices of electricity, paper and paper products, and basic metals, data from Statistics Finland showed on Tuesday.

The producer price index fell 8.2 percent year-over-year in September, following an 8.4 percent plunge in the previous month. This was the sixth successive decline in a row.

The downward trend in producer prices for manufactured products was particularly caused by the decrease in the prices of electricity, paper and paper products, and basic metals compared to last year's September, the agency said.

On the other hand, the fall in prices was curbed, especially by the increase in prices of machinery and equipment from a year ago.

Domestic producer prices slid 8.1 percent annually in September, and those in the export market declined sharply by 8.2 percent.

On a month-on-month basis, producer prices dropped 0.1 percent from August, when they rose by 1.8 percent.

Separate official data showed that the unemployment rate rose to 7.0 percent in September from 6.7 percent in August.

In the same month last year, the unemployment rate was also 6.7 percent.

The number of unemployed people increased to 198,000 in September from 192,000 in the previous month.

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