Crude oil and petroleum products pulled up the PPI

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The producer price index (PPI) rose by 0.4 per cent from July to August. This broke a downward trend in the PPI as it went down the previous five months.

Higher prices on crude oil, petroleum products and extraction services were the main contributors for the rise. The price of natural gas fell slightly and countered some of the increase. Services related to oil and gas extraction went up 3.3 per cent. This was the second month in a row with an increase and the last time the prices within this industry went up two months in a row was in 2015.

Lower prices in food products

The prices within processed sea food fell 3.7 per cent from July to August while prices on beverages went the other direction. The index for food, beverages and tobacco thus fell 1 per cent. The contribution from food products led to a decrease in the manufacturing industry prices as a whole.

Figure 1. Price indices. 2014=100
Figure 1. Price indices. 2014=100
PPI excluding energy goods PPI total
Jan. 2014 98.7 104.9
Feb. 2014 98.8 104.2
March 2014 98.8 101.2
April 2014 99 100.7
May 2014 99.1 99.8
June 2014 99.1 100.2
July 2014 100 99.7
Aug. 2014 100.5 99
Sept. 2014 100.8 99
Oct. 2014 101 98.8
Nov. 2014 101.6 96.1
Dec. 2014 102.7 96.3
Jan. 2015 103.8 91.9
Feb. 2015 104 93.9
March 2015 103.6 95.1
April 2015 103.3 95.1
May 2015 102.9 95.1
June 2015 102.9 95.3
July 2015 103.2 93.1
Aug. 2015 103.3 89.1
Sept. 2015 103.3 89
Oct. 2015 103.2 89.5
Nov. 2015 104.1 89.9
Dec. 2015 104.1 85.9
Jan. 2016 103.8 82
Feb. 2016 103.9 79.9
March 2016 103.9 80.9
April 2016 103.8 81.5
May 2016 103.9 83.7
June 2016 103.8 86.1
July 2016 103.9 86.4
Aug. 2016 104 84.9
Sept. 2016 103 83.6
Oct. 2016 102.3 85.4
Nov. 2016 102.3 87.6
Dec. 2016 102.7 92.1
Jan. 2017 102.9 92.4
Feb. 2017 104 94.9
March 2017 104 93.9
April 2017 104.6 91.9
May 2017 105 91.2
June 2017 104.5 88.9
July 2017 104.6 88
Aug. 2017 104.4 88.3

 

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