Price index of first-hand domestic sales, 15 August 2001

Prices of mineral fuels, lubricants and related materials went up 0.9 per cent from July to August, while the corresponding figure for machinery was 0.4 per cent. The largest decrease in prices occurred in products belonging to the groups manufactured goods and crude materials. These groups declined 0.6 per cent and 0.9 per cent, respectively. Prices in both groups have shown a falling trend so far this year, in contrast to 2000 when prices in both groups increased.

The 12-month rate, August 2000 - August 2001; Lower prices

The overall 12-month rate was -0,2 per cent this month. Mineral fuels lubricants and related materials went down 8.7 per cent due to a 12.4 per cent drop in prices of petroleum and petroleum products. Prices of crude materials declined by 4.1 per cent due to lower prices of products in the groups pulp and waste paper, and metalliferous ores and metal scrap. The largest upward pull came from food, which increased by 5.4 per cent.

Changes is the 12-month rate

The 12-month rate of the total index continues to decline and went from 0,3 per cent in July to -0,2 per cent in August. This is the first time since January 1999 that the 12-month rate is below zero. The latest decrease is to some degree caused by lower prices on petroleum products and manufactured goods. Mineral fuels, lubricants and related materials went from -6.6 per cent in July to -8.7 per cent this month. The corresponding figure for April was 17.8 per cent. Manufactured goods went from 0.9 per cent in July to -0.4 per cent in August. Lower prices of metals are the main reason for the decrease this group has experienced this year. A downward trend so far this year is also found in the 12-month rate of crude materials.

The 12-month rate of food went from 4.7 per cent in July to 5.4 per cent in August even though the prices of food were unchanged from last month. The price movement last year, when prices fell 0.7 per cent in the group from July to August, causes the rise.