2023.09.2508:16:00UTC+00Finland Producer Prices Continue To Fall Sharply

Finland's producer prices continued their steep declining trend in August, largely led by lower prices of electricity, basic metals, chemicals, and chemical products, data from Statistics Finland showed on Monday.

The producer price index fell 8.4 percent year-over-year in August, though slower than the 10.0 percent plunge in the previous month. This was the fifth successive decrease in row.

The downward price trend for manufactured products was particularly caused by the decrease in costs of electricity, oil products, and basic metals compared to last year's August, 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 7.0 percent annually in August, while those in the export market declined sharply by 10.0 percent.

On a month-on-month basis, producer prices dropped 1.8 percent from July, when they decreased by 0.9 percent. Prices have been falling since July last year.