Financial News: Finland Producer Prices Rise Slightly In July

Finland Producer Prices Rise Slightly In July

08/26/2024 - 02:50:00 (RTTNews)

(RTTNews) - Finland's producer prices increased for the first time in fifteen months in July, though marginally, data from Statistics Finland showed on Monday.

The producer price index rose 0.2 percent year-over-year in July, reversing a 0.3 percent decline in the previous month. An increase in the producer price index was last seen in March 2023.

The rise in producer prices was particularly caused by the higher prices of pulp, machinery and equipment, and timber compared with last year, the agency said.

On the other hand, the increase was curbed, especially by the decrease in prices of electricity, paper and paperboard, and metal products.

Domestic producer prices dropped 0.8 percent annually, and those of export products climbed by 1.3 percent.

On a month-on-month basis, producer prices decreased 0.4 percent in July versus 0.3 percent a month ago.

Data also showed that export prices moved up 1.3 percent from last year, while import prices were 0.3 percent lower.

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