2023.03.2410:37:00UTC+00Finland Producer Price Inflation At 22-Month Low

Finland's producer price inflation eased further in February to the lowest level in nearly two years, data from Statistics Finland showed on Friday.

The producer price index climbed 9.2 percent year-over-year in February, slower than the 10.7 percent surge in the previous month.

Further, the latest inflation was the slowest since April 2021, when prices had risen 8.7 percent.

The overall price increase in February was particularly caused by higher prices of paper and paper products, food products and oil products compared to last year, the statistical office said.

On the other hand, the annual price growth was curbed by a decline in costs for basic metals, wood, and related products.?

Domestic producer prices rose 11.6 percent annually in February, while those in the export market grew by 6.7 percent.

Data also showed that import prices were 7.6 percent higher in February from a year ago, and export prices rose 6.7 percent.

On a month-on-month basis, producer prices declined 0.6 percent from January, when they decreased by 2.1 percent. Prices fell for the sixth consecutive month.