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Finland's producer price inflation accelerated further in May to the highest level in more than one year, figures from Statistics Finland showed Monday.

Producer prices for manufactured products climbed 4.9 percent year-over-year in May, faster than the 3.3 percent increase in April. The measure has been rising since November 2016.

Moreover, this was the highest rate of inflation since February last year, when prices had grown the same 4.9 percent.

The overall PPI Inflation was mainly driven by increased prices of oil products, pulp, paper, paperboard and cardboard and chemicals and chemical products.

Both domestic and foreign market prices grew by 3.2 percent and 6.7 percent, respectively in May from a year ago.

On a monthly basis, producer prices increased 1.2 percent from April, when it rose by 0.4 percent.