The producer prices of industrial products were 11.0% lower in October 2023 than in October 2022. In September 2023, the year-on-year change rate was -14.7%, which is the largest decline compared with the same month a year earlier since the data were first collected in 1949. The development is still mainly attributable to a base effect caused by the very high price level of the previous year. As a result of the war in Ukraine, the producer price increase in August and September 2022 (+45.8% each from the same month a year earlier) was the highest ever registered since records began. Then the year-on-year increase ... (full story)