Manufacturing output prices almost 7 percent up in March

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Producer prices

Year	Month	change (year-on-year % change)
2017	April	7.5
2017	May	4.9
2017	June	3
2017	July	3.1
2017	August	3.6
2017	September	4.1
2017	October	2.8
2017	November	3.8
2017	December	2.1
2018	January	1.5
2018	February	0.3
2018	March	0.6
2018	April	1
2018	May	3.7
2018	June	5
2018	July	5.4
2018	August	5.2
2018	September	4.8
2018	October	5.3
2018	November	2.7
2018	December	0.6
2019	January	1
2019	February	2.1
2019	March	2.6
2019	April	3.3
2019	May	2
2019	June	0.4
2019	July	0.1
2019	August	-0.8
2019	September	-0.7
2019	October	-1.5
2019	November	0.2
2019	December	2.9
2020	January	2.2
2020	February	0.9
2020	March	-3.8
2020	April	-8
2020	May	-7.8
2020	June	-5.5
2020	July	-4.8
2020	August	-4.2
2020	September	-5.3
2020	October	-5
2020	November	-4.6
2020	December	-4.1
2021	January	-2
2021	February	0.7
2021	March	6.8

Producer prices

Year	Month	change (year-on-year % change)
2017	April	7.5
2017	May	4.9
2017	June	3
2017	July	3.1
2017	August	3.6
2017	September	4.1
2017	October	2.8
2017	November	3.8
2017	December	2.1
2018	January	1.5
2018	February	0.3
2018	March	0.6
2018	April	1
2018	May	3.7
2018	June	5
2018	July	5.4
2018	August	5.2
2018	September	4.8
2018	October	5.3
2018	November	2.7
2018	December	0.6
2019	January	1
2019	February	2.1
2019	March	2.6
2019	April	3.3
2019	May	2
2019	June	0.4
2019	July	0.1
2019	August	-0.8
2019	September	-0.7
2019	October	-1.5
2019	November	0.2
2019	December	2.9
2020	January	2.2
2020	February	0.9
2020	March	-3.8
2020	April	-8
2020	May	-7.8
2020	June	-5.5
2020	July	-4.8
2020	August	-4.2
2020	September	-5.3
2020	October	-5
2020	November	-4.6
2020	December	-4.1
2021	January	-2
2021	February	0.7
2021	March	6.8

Significant increase in crude oil price

Output prices are strongly affected by crude oil price developments. In March 2021, the price of a barrel of crude North Sea Brent oil was over 55 euros, 77 percent higher than in March 2020. In February 2021, the crude oil barrel price stood at over 51 euros, approximately 1 percent down on February 2020.

In March, prices of petroleum derivatives were up by 55.4 percent year-on-year. Prices were down year-on-year by 3.5 percent in February. In the chemical industry as well, output prices are generally linked to crude oil price developments. Output prices of chemical products were 12.0 percent higher in March than in the same month last year. In February, prices increased by 2.5 percent year-on-year.

Prices in approximately 80 percent of the manufacturing sectors were higher in March 2021 than in the same month last year.

Prices of manufactured products increased in March

Manufacturing output prices rose by 2.0 percent in March relative to February. They increased by 1.9 percent on the export market and by 2.1 percent on the domestic market.