2020.05.2505:58:00UTC+00Finland Producer Prices Fall Sharply On Oil, Electricity

Finland's producer prices declined sharply in April largely driven by fall in prices of oil products, data from Statistics Finland showed Monday.

Producer prices decreased 7 percent year-on-year in April, faster than the 5.6 percent decrease seen in March. Prices have been falling over the last eleven months.

The drop in the producer prices was particularly driven by lower costs of oil products, pulp, paper, paperboard and cardboard, as well as electricity in April.

Producer prices in the domestic market declined 6.3 percent, and that of exports fell 7.8 percent annually.

On a monthly basis, the decline in producer prices slowed to 1.4 percent from 3 percent in March.

Data showed that import prices fell 3.3 percent on a monthly basis. At the same time, prices declined 10.8 percent from the same period last year.

Likewise, export prices decreased 1.3 percent on month and 7.8 percent from last year.