2011.01.1706:09:00UTC+00Finnish December PPI Inflation Highest In 2010

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.