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Finnish producer price inflation for manufactured products accelerated in December to the highest level in 2010, data released by Statistics Finland showed Monday.
The producer price index (PPI) increased 7.8% from the same month last year, recording the highest rate of increase for 2010. In November, the index rose 6.6%. Prices have been rising steadily since February.
The index for domestic goods climbed 8.7% year-on-year, faster than 7% in the previous month. The corresponding measure for export goods rose 6.6% from last year, after a 6.2% gain in November.
Import price inflation surged to 11.2% in December, from 8.7% in the previous month. It was the strongest rate in the latest rising trend that began in February. The export price index grew 6.9% from last year.
Month-on-month, the PPI rose 1.5%, marking the highest growth in the whole year. In November, the index had remained unchanged from the previous month.
Domestic goods prices advanced 2.1% and export goods prices rose 0.7%. Export prices increased 1% from November, while import prices rose 2.6%.
Separately, the agency reported that Finland's producer price index for services increased 1.2% year-on-year in the fourth quarter, slower than the 1.5% growth in the third quarter. The growth was led by 2.3% increase in transportation and storage costs and 3.4% price rise in real estate activities. Quarterly, the index increased 0.7%, reversing a 0.3% decline reported in the previous quarter.
